NEW YORK, Jan. 10, 2017 /PRNewswire/ -- Attorney
Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies
investors that a class action lawsuit has been filed against Inotek
Pharmaceuticals Corporation ("Inotek" or the "Company") (NASDAQ:
ITEK) and certain of its officers, and is on behalf of a class
consisting of all persons or entities who purchased Inotek
securities July 23, 2015 and
December 30, 2016, both dates
inclusive (the "Class Period"). Such investors are advised to
join this case by visiting the firm's site:
http://www.bgandg.com/itek.
This class action seeks to recover damages against Defendants
for alleged violations of the federal securities laws under the
Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint alleges that on July 23,
2015, Inotek announced its positive End of Phase 2 meeting
with the U.S. Food and Drug Administration and said that Inotek is
in the "final preparation stages to commence its first Phase 3
trial in 4Q and look forward to data in 2016." Inotek also
announced a confident forecast of the Phase 3 trabodenoson trial,
which caused its stock price to surge to $15.37 per share on July
23, 2015. Inotek's Form 10-K filing also implied that
trabodenoson would be successful, stating that it upholds an
impressive safety record compared to similar glaucoma
treatments.
Despite the positive announcements, per the Complaint, Inotek
officials were aware that part of the clinical trial of
trabodenoson would not achieve its intended goal of reducing
intraocular pressure compared to the placebo. Later on January 3, 2017, Inotek exposed this information
and stated that the first pivotal Phase 3 trial of trabodenoson to
treat open-angle glaucoma or ocular hypertension failed, in
comparison to the placebo, in its endpoint of superiority in the
reduction of intraocular pressure. Following this news, Inotek's
stock dropped about 70%.
A class action lawsuit has already been filed. If you wish to
review a copy of the Complaint you can visit the firm's site:
http://www.bgandg.com/itek or you may contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss
in Inotek you have until March 7,
2017 to request that the Court appoint you as lead
plaintiff. Your ability to share in any recovery doesn't
require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC