The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Eastern District of New York on behalf of investors who purchased Intra-Cellular Therapies, Inc. (NASDAQ : ITCI) securities between August 12, 2014 and April 28, 2017.
According to the complaint, throughout the Class Period defendants made 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; (3) 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.
If you suffered a loss in Intra-Cellular Therapies, Inc. you have until July 11, 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.
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