Deadline on July 14, 2014 in Lawsuit for Investors in Insys Therapeutics Inc (INSY) Shares Announced by Shareholders Foundation

By GlobeNewswire,  June 09, 2014, 09:34:00 AM EDT


SAN DIEGO, June 9, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline to get actively involved is coming up on July 14, 2014 in the lawsuit filed on behalf of certain investors in shares of Insys Therapeutics Inc ( INSY ) over alleged Securities Laws Violations by Insys Therapeutics Inc.

If you purchased a significant amount of shares Insys Therapeutics Inc ( INSY ) between May 1, 2013 and May 8, 2014, and/or if you purchased INSY shares in May 2013 or earlier and currently hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: July 14, 2014. Insys Therapeutics investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff claims that defendants made allegedly false and/or misleading statements concerning, and/or failed to disclose, among other things that Insys Therapeutics Inc engaged in illegal and/or unethical off label marketing of Subsys®, that Insys Therapeutics Inc was exposed to potential fines and other disciplinary actions as a result of its Subsys marketing practices, and that as a result, the Insys Therapeutics Inc's financial statements were materially false and misleading at all relevant times.

In December 2013Insys Therapeutics Inc announced that, "it has received a subpoena from the Office of Inspector General of the Department of Health and Human Services ("HHS") in connection with an investigation of potential violations involving HHS programs."

On May 8, 2014, an article was published detailing charges against a Michigan doctor who allegedly accounted for 20% of total nationwide Subsys prescriptions. According to the article, the doctor was under investigation by the FBI, the DEA and the IRS for allegedly prescribing unnecessary medication to patients, including Subsys, and billing Medicare and private insurers for tests he did not conduct. Then on May 11, 2014, an analyst firm published a report further highlighting the claims against the Michigan doctor, and the problems attendant to Insys Therapeutics Inc's marketing of Subsys, including allegedly illegal off-label marketing. Shares of Insys Therapeutics Inc ( INSY ) declined from $41.99 per share on May 6, 2014 to $20.63 per share on May 15, 2014.

Those who purchased shares of Insys Therapeutics Inc ( INSY ) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT: Shareholders Foundation, Inc.Trevor Allen
         +1 (858) 779-1554
         mail@shareholdersfoundation.com
         3111 Camino Del Rio North
         Suite 423
         San Diego, CA 92108

Source: Shareholders Foundation, Inc.

This article appears in: News Headlines

Referenced Stocks: INSY


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