December 12, 2013 (Shareholders Foundation) - An investigation on behalf of investors of Insys Therapeutics Inc (NASDAQ:INSY) shares over potential securities laws violations by Insys Therapeutics and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Insys Therapeutics Inc (NASDAQ:INSY) concerning whether a series of statements Insys Therapeutics regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On May 2, 2013, Insys Therapeutics Inc announced the pricing of its initial public offering.

On June 3, 2013, Insys Therapeutics Inc reported its first quarter 2013 results. Among other things, Insys Therapeutics Inc said that its Total first quarter revenue increased to $11.1 million in 2013 versus $2.0 million in 2012 and that sales of Subsys added $9.7 million in net revenue during the first three months of 2013

On August 13, 2013, Insys Therapeutics Inc reported its second quarter 2013 financial results. Among other things, Insys Therapeutics Inc sais that its Total second quarter net revenue increased to $18.8 million in 2013 versus $3.5 million in 2012 and that Subsys generated $18.5 million in net revenue during the second quarter of 2013, up 90.8% quarter-over-quarter from $9.7 million in the first quarter of 2013

On November 12, 2013, Insys Therapeutics Inc reported its third quarter 2013 results. Among other things, Insys Therapeutics Inc said that its Total net revenue increased to $29.2 million in the third quarter of 2013 versus $4.8 million for the third quarter of 2012, and that revenues from Subsys were $28.4 million, up 1,002% over third quarter of 2012 levels and up 53% as compared with the second quarter of 2013.

Shares of Insys Therapeutics Inc (NASDAQ:INSY) grew from $9.50 per share in early May 2013 to as high as $48.82 per share on December 9, 2013.

Then on December 12, 2013, after the market closed, Insys 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.

Insys Therapeutics Inc said that the subpoena requested documents regarding Subsys, including Insys Therapeutics' sales and marketing practices relating to this product.

Shares of Insys Therapeutics Inc (NASDAQ:INSY) dropped in after hours trading to $35.97 per share.