DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against Lipocine Inc. (“Lipocine”) (NASDAQ: LPCN) and several officers and directors for acts taken during the period of June 30, 2015 to June 28, 2016 (the “Class Period”).
Shareholders who suffered a loss during the class period have until August 30, 2016 to seek appointment as lead plaintiff. If you lost more than $100,000 from shares purchased during the class period and wish to take a more proactive role in the litigation, you are urged to contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at shareholders@thebriscoelawfirm.com, Patrick Powers at Powers Taylor LLP via email at shareholder@powerstaylor.com, or call toll free at (877) 728-9607. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants issued false and/or misleading statements and/or failed to disclose that Lipocine’s filing of its New Drug Application to the U.S. Food and Drug Administration for LPCN 1021, its lead product candidate, contained deficiencies. The complaint also alleges that, as a result, defendants’ statements about Lipocine’s business and operations were false and misleading and/or lacked a reasonable basis.
On June 29, 2016, Lipocine issued a press releasing disclosing its receipt of a Complete Response Letter for LPCN 1021 from the FDA, identifying deficiencies relating to the product’s dosing algorithm and advising the company that its LPCN 1021 application could not be approved in its current form. Lipocine’s stock dropped significantly immediately following this announcement.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
