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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 June 11, 2018 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 9, 2018 - The court approved the settlement.
March 21, 2018 - The court preliminarily approved the settlement.
March 15, 2018 - A stipulation of settlement was filed by the parties.
November 13, 2017 - The court denied defendants' motion to dismiss.
June 12, 2017 - A motion to dismiss the amended complaint was filed.
April 27, 2017 - An amended complaint was filed.
March 14, 2017 - The case was transferred to the U.S. District Court for the District of Utah.
July 1, 2016 - An investor in shares of Lipocine Inc (NASDAQ: LPCN) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Lipocine Inc in connection with certain allegedly false and misleading statements made between June 30, 2015 and June 28, 2016.
According to the complaint the plaintiff alleges on behalf of purchasers of Lipocine Inc (NASDAQ: LPCN) common shares between June 30, 2015 and June 28, 2016, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between June 30, 2015 and June 28, 2016 the defendants made allegedly false and/or misleading statements and/or failed to disclose that Lipocine Inc’s filing of its New Drug Application to the U.S. Food and Drug Administration for LPCN 1021, Lipocine Inc’s lead product candidate, contained deficiencies, and that as a result, defendants’ statements about Lipocine Inc’s business and operations were false and misleading and/or lacked a reasonable basis. Shares of Lipocine Inc (NASDAQ: LPCN) grew from $3.95 per share in November 2014 to as high as $18.04 per share in September 2015.
On June 29, 2016, Lipocine Inc announced that it has received a Complete Response Letter ( CRL ) from the United States Food and Drug Administration ( FDA ) regarding its New Drug Application ( NDA ) for LPCN 1021, an oral testosterone product candidate for testosterone replacement therapy ( TRT ) in adult males for conditions associated with a deficiency or absence of endogenous testosterone, also known as hypogonadism. Lipocine Inc said that the CRL identified deficiencies related to the dosing algorithm for the label. More specifically, Lipocine Inc said that the CRL stated that the proposed titration scheme for clinical practice was significantly different from the titration scheme used in the Phase 3 trial leading to discordance in titration decisions between the Phase 3 trial and real-world clinical practice.
Shares of Lipocine Inc (NASDAQ: LPCN) declined to as low as $2.51 per share on June 29, 2016.
On July 1, 2016, NASDAQ: LPCN shares closed at $3.04 per share.