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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of January 5, 2021 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
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July 30, 2020 - The court preliminarily approved the settlement.
November 4, 2019 - A stipulation and agreement of settlement was entered by the parties.
March 30, 2018 - A motion to dismiss the amended complaint was filed.
January 29, 2018 - An amended complaint was filed.
July 31, 2017 (Shareholders Foundation) - An investor in shares of IntelliPharmaCeutics Intl Inc (USA) (NASDAQ:IPCI) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by IntelliPharmaCeutics Intl Inc (USA) in connection with certain allegedly false and misleading statements made between January 14, 2016 and July 26, 2017.
According to the complaint the plaintiff alleges on behalf of purchasers of IntelliPharmaCeutics Intl Inc (USA) (NASDAQ:IPCI) common shares between January 14, 2016 and July 26, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between January 14, 2016 and July 26, 2017, the defendants made false and/or misleading statements and/or failed to disclose that Intellipharmaceutics failed to conduct a human abuse liability study to support its Rexista New Drug Application (“NDA”), that the Company did not include abuse-deterrent studies conducted to suppose abuse-deterrent label claims related to abuse of the drug by various pathways, that the Company was not submitting sufficient data to support approval of the NDA, and that as a result, Defendants’ statements about Intellipharmaceutics’ business, operations, and prospects were false and misleading and/or lacked a reasonable basis. Canada-based Intellipharmaceutics International Inc is a pharmaceutical company engaged in the research, development and manufacture of controlled-release and targeted-release oral solid dosage drugs.
On July 26, 2017, IntelliPharmaCeutics Intl Inc announced that the Anesthetic and Analgesic Drug Products Advisory Committee and Drug Safety and Risk Management Advisory Committee of the U.S. Food and Drug Administration ( FDA ) voted 22 to 1 in finding that the Company's New Drug Application ( NDA ) for Rexista™ abuse-deterrent oxycodone hydrochloride extended release tablets should not be approved at this time. Shares of IntelliPharmaCeutics Intl Inc (USA) (NASDAQ:IPCI) declined to as low as $1.15 per share on August 2, 2017.