NEW YORK, Aug. 15, 2017 /PRNewswire/ -- Juan Monteverde, founder and managing partner at
Monteverde & Associates PC, a boutique securities firm
headquartered at the Empire State Building in New York City announces that a class action
lawsuit has been filed in the U.S. District Court for the
Southern District of New York
(Case No. 1:17-cv-05761) against IntelliPharmaCeutics International
Inc (NasdaqCM: IPCI)("IntelliPharmaCeutics" or the "Company") on
behalf of purchasers of the Company's securities between
Janurary 14, 2016 and July 26,
2016, inclusive (the "Class Period").
The lawsuit is based on whether IntelliPharmaCeutics and its
executives violated federal securities law by misleading investors
by failing to disclose that the Company failed to conduct a human
abuse liability study to support its New Drug Application (''NDA'')
for Rexista.
On July 24, 2017, scientists from
the Food & Drug Administration (''FDA'') expressed concerns
that the Company failed to provide enough data about the abuse
potential of its opioid painkilling drug, Rexista. On July 26, 2017, IntelliPharmaCeutics disclosed
that two advisory committees of the FDA voted 22 to 1 to oppose the
Company's New Drug Application for Rexista, citing insufficient
data regarding the abuse-deterrent properties of the drug as a
motivating concern. When this news was released, the Company's
stock price fell materially, which harmed investors according to
the Complaint.
Mr. Monteverde would like to personally discuss with you how
to potentially recover your monetary losses, if incurred during the
Class Period.
If you wish to serve as lead plaintiff, you must move the Court
no later than September 29,
2017. Any member of the putative class may move the
Court to serve as lead plaintiff through counsel of their choice,
or may choose to do nothing and remain an absent class member.
Click here for more information:
http://monteverdelaw.com/securities/. It is free
and there is no cost or obligation to you.
Monteverde & Associates PC is a boutique class action
securities and consumer litigation law firm committed that has
recovered millions of dollars and is committed to protecting
shareholders and consumers from corporate wrongdoing.
Monteverde & Associates PC lawyers have significant experience
litigating Mergers & Acquisitions and Securities Class Actions,
whereby they protect investors by recovering money and remedying
corporate misconduct.
Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341
Attorney Advertising. (C) 2017 Monteverde & Associates
PC. Prior results do not guarantee a similar outcome with
respect to any future matter.
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SOURCE Monteverde & Associates PC