NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Lipocine Inc. (NasdaqCM: LPCN).
On June 29, 2016, the Company revealed that the FDA had denied approval of the Company’s lead drug product candidate, TLANDO (“LPCN 1021”), a testosterone replacement therapy drug. According to the Complete Response Letter issued by the FDA, the denial was based on the determination that the dosing scheme used in the Phase 3 trial was “significantly different” from the scheme proposed for real world clinical practice, leading to a finding of “deficiencies related to the dosing algorithm for the label.” Throughout the Phase 3 testing process, the Company had repeatedly touted the positive efficacy and safety results of LPCN 1021 in press releases and public filings without revealing the discrepancies in the dosing schemes and the resulting risk of denial of its leading product candidate.
Thereafter, the Company and certain executives were sued in a securities class action lawsuit, for failing to disclose material information, violating federal securities laws. Recently, the Company’s motion to dismiss was denied, allowing the case to proceed and days later, the parties announced their agreement to settle the case.
KSF’s investigation focuses on whether Lipocine’s officers and/or directors breached their fiduciary duties to Lipocine’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Lipocine shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqcm-lpcn/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.