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SHAREHOLDER ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Intra-Cellular Therapies, Inc. and Reminds Investors with Losses to Contact the Firm
Monday, June 19, 2017 5:29 PM
IRVINE, CA / ACCESSWIRE / June 19, 2017 / Khang & Khang LLP (the "Firm") announces a securities class action lawsuit against Intra-Cellular Therapies, Inc. ("Intra-Cellular" or the "Company") (NASDAQ: ITCI). Investors, who purchased or otherwise acquired Intra-Cellular shares between August 12, 2014 and April 28, 2017, inclusive (the "Class Period"), are encouraged to contact the Firm in advance of the July 11, 2017 lead plaintiff motion deadline.
If you purchased shares of Intra-Cellular during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone at (949) 419-3834, or via e-mail at [email protected].
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
According to the Complaint, throughout the Class Period, Intra-Cellular made false and/or misleading statements and/or failed to disclose: that findings related to toxicity in animals treated with lumateperone (ITI-007) were observed; that these findings posed an additional safety concern regarding lumateperone; and that as a result of the above, the Company's public statements were materially false and misleading at all relevant times. On August 4, 2016, the Company's Chief Executive Officer, Sharon Mates, touted the "efficacy and safety of ITI-007 for the treatment of schizophrenia." On May 1, 2017, Intra-Cellular disclosed that the U.S. Food and Drug Administration requested information from the Company in order to verify whether or not there are safety risks associated with long-term exposure of ITI-007 to patients. Upon release of this news, Intra-Cellular's stock price fell materially, which harmed investors according to the Complaint.
If you want to learn more about this lawsuit, or if you have any questions about this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in certain jurisdictions.
Joon M. Khang, Esq.
SOURCE: Khang & Khang LLP