NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Innocoll Holdings plc (“Innocoll”) (NASDAQ:INNL) resulting from allegations that Innocoll may have issued materially misleading business information to the investing public.
Innocoll’s lead product candidate is XARACOLL, which aims to treat postsurgical pain. Innocoll filed a New Drug Application (“NDA”) with the U.S. Food & Drug Administration (“FDA”) in October 2016.
On December 29, 2016, Innocoll announced that it had received a Refusal to File letter from the FDA as to XARACOLL’s NDA. According to Innocoll, the reasons the FDA provided included, among other things, that XARACOLL should have been characterized as a drug/device combination, requiring Innocoll to submit further information. On this news, Innocoll shares fell $1.16 in intraday trading on December 30, or 66%.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Innocoll investors. If you purchased shares of Innocoll on or before December 29, 2016, please visit the firm’s website at http://www.rosenlegal.com/cases-1019.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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