INVESTOR ALERT: Lundin Law PC Announces Securities Class Action Lawsuit Against Inotek Pharmaceuticals Corp. & Encourages Inv...
January 10 2017 - 4:53PM
Business Wire
Lundin Law PC, a shareholder rights firm announces a class
action lawsuit against Inotek Pharmaceuticals Corporation ("Inotek"
or the "Company") (Nasdaq: ITEK). Investors, who purchased or
otherwise acquired shares between July 23, 2015 and December 30,
2016 inclusive (the "Class Period"), are encouraged to contact the
Firm in advance of the March 7, 2017 lead plaintiff motion
deadline.
To participate in this class action lawsuit, call Brian Lundin,
Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him
at brian@lundinlawpc.com.
No class has been certified in the above action yet. Until
certification occurs, you are not represented by an attorney. You
may choose to take no action and remain a passive class member.
According to the Complaint, on July 23, 2015, Inotek released a
successful End of Phase 2, mentioning that the Company is in the
"final preparation stages to commence its first Phase 3 trial in 4Q
and look forward to data in 2016." Inotek anticipated a positive
outcome for the Phase 3 trabodenoson trial, causing the company's
share price to increase greatly to $15.37 per share on July 23,
2015. Inotek's Form 10-K filing also insinuated to investors that
trabodenoson would be successful, as it maintains a strong safety
record compared to similar glaucoma treatments on the market.
However, the Complaint alleges that Inotek officials were
informed a section of the clinical trial of trabodenoson would fail
to meet its intended goal of reducing intraocular pressure compared
with the placebo.
Inotek revealed on January 3, 2017 that the first pivotal Phase
3 trial of trabodenoson to treat open-angle glaucoma or ocular
hypertension was unsuccessful, in comparison to the placebo, in its
goal of superiority in the reduction of intraocular pressure.
When this information was revealed to the public, the value of
Inotek stock dropped, causing investors harm.
Lundin Law PC was established by Brian Lundin, a securities
litigator based in Los Angeles dedicated to upholding shareholders'
rights.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20170110006410/en/
Lundin Law PCBrian Lundin, Esq.Telephone: 888-713-1033Facsimile:
888-713-1125brian@lundinlawpc.com
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