NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired shares of Intellipharmaceutics International Inc. (NASDAQ:IPCI) between January 14, 2016 and July 26, 2017. You are hereby notified that Levi & Korsinsky has commenced the class action Shanawaz v. Intellipharmaceutics International Inc., et al. (Case No. 1:17-cv-05761) in the USDC for the Southern District of New York. Click here to view the complaint. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Intellipharmaceutics failed to conduct a human abuse liability study to support its Rexista New Drug Application (“NDA”); (2) the Company did not include abuse-deterrent studies conducted to suppose abuse-deterrent label claims related to abuse of the drug by various pathways; (3) the Company was not submitting sufficient data to support approval of the NDA; and (4) as a result, Defendants’ statements about Intellipharmaceutics’ business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On July 27, 2017, shares of Intellipharmaceutics fell when the FDA released a report disclosing that “The safety information collected in the pharmacokinetic studies was of limited value…”
If you suffered a loss in Intellipharmaceutics you have until September 29, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.