Lead Plaintiff Deadline Is August 30, 2016
NEW YORK, NY / ACCESSWIRE / July 8, 2016 / Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of purchasers of Lipocine, Inc. ("Lipocine" or the "Company") (NASDAQ: LPCN) between June 30, 2015 and June 28, 2016, inclusive (the "Class Period").
Shareholders who have purchased Lipocine, Inc. common stock and incurred losses, are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774.
If you purchased shares of Lipocine, Inc.and suffered a loss, you may request that the Court appoint you lead plaintiff of the proposed class no later than August 30, 2016.
Lipocine, Inc. a specialty pharmaceutical company, develops pharmaceutical products using its oral drug delivery technology in the areas of men's and women's health.
The filed Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) the Company's filing of its New Drug Application ("NDA") for its lead product candidate, TLANDOTM ("LPCN 1021"), to the United States Food and Drug Administration ("FDA") contained deficiencies; and (2) as a result, Defendants' statements about Lipocine's business and operations were false and misleading and/or lacked a reasonable basis. As a result of defendants' alleged false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period.
According to the filed Complaint, on June 29, 2016, the Company announced that it had received a Complete Response Letter ("CRL") from the FDA regarding its NDA for LPCN 1021. The CRL identified deficiencies related to the dosing algorithm for the label. Specifically, the proposed titration scheme for clinical practice was significantly different from the titration scheme used in the Phase III trial leading to discordance in titration decisions between the Phase III trial and real-world clinical practice.
On this news, shares of Lipocine plummeted over 50%, closing at $3.10 per share on June 29, 2016, on heavy trading volume.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.
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Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
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SOURCE: Wolf Haldenstein Adler Freeman & Herz LLP