The Klein Law Firm Reminds Investors of Commencement of a Class Action on Behalf of Intra-Cellular Therapies, Inc. Shareholde...
June 07 2017 - 10:43AM
Business Wire
The Klein Law Firm announces that a class action complaint has
been filed on behalf of shareholders of Intra-Cellular Therapies,
Inc. (NASDAQ:ITCI) who purchased shares between August 12, 2014 and April
28, 2017. The action, which was filed in the USDC for the
Eastern District of New York, alleges that the Company violated
federal securities laws.
In particular, the complaint alleges that throughout the Class
Period, defendants made materially false and/or misleading
statements and/or failed to disclose that (1) findings related to
toxicity in animals treated with lumateperone (ITI-007) were
observed; (2) these findings posed an additional safety concern
regarding lumateperone; (2) and 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 CEO Sharon
Mates touted the “efficacy and safety of ITI-007 for the treatment
of schizophrenia.” Then 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.
Shareholders have until July 11, 2017 to petition the
court for lead plaintiff status. Your ability to share in any
recovery does not require that you serve as lead plaintiff. You may
choose to be an absent class member.
If you suffered a loss during the class period and wish to
obtain additional information, please contact Joseph Klein, Esq. by
telephone at 212-616-4899 or visit
http://www.kleinstocklaw.com/pslra-sa/intra-cellular-therapies-inc?wire=2.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT:Joseph Klein, Esq.Empire State Building350 Fifth
Avenue59th FloorNew York, NY 10118Telephone: (212) 616-4899Fax:
(347) 558-9665www.kleinstocklaw.com
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The Klein Law FirmJoseph Klein, Esq.212-616-4899
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