NEW YORK--(BUSINESS WIRE)--Newman Ferrara LLP announced today that the firm is conducting an investigation on behalf of shareholders of Intra-Cellular Therapies, Inc. (“ITI” or the “Company”) (NASDAQ:ITCI) into potential breaches of fiduciary duty by the Company’s Board of Directors (the “Board”).
ITI, headquartered in New York, NY, is a biopharmaceutical company focused on the discovery and clinical development of drugs concerning neuropsychiatric and neurological disorders. Newman Ferrara’s investigation focuses on decisions made by the Board, without shareholder approval, the result of which significantly diminish shareholder value and do not benefit the Company. Considering the Company’s lackluster performance since its 2014 initial public offering, it is clear that the Board lacks the ability to fairly assess and oversee the Company’s direction and leadership.
Current ITI stockholders seeking more information on this matter are invited to contact Newman Ferrara attorneys Jeffrey Norton (firstname.lastname@example.org) or Roger Sachar, Jr. (email@example.com) to discuss this investigation and their rights.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.