LOS ANGELES, June 08, 2017 (GLOBE NEWSWIRE) — Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Intra-Cellular Therapies, Inc. (“Intra-Cellular” or the “Company”) (Nasdaq:ITCI) for possible violations of federal securities laws between August 12, 2014 and April 28, 2017 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the July 11, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at [email protected].
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The Complaint states that, 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, Intra-Cellular’s CEO 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. When this information was released, Intra-Cellular’s stock price decreased materially, which harmed investors according to the Complaint.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
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CONTACT: Contact: Lundin Law PC Brian Lundin, Esq. Telephone: 888-713-1033 Facsimile: 888-713-1125 [email protected] http://lundinlawpc.com/