An investor, who purchased shares of MannKind Corporation (NASDAQ:MNKD), filed a lawsuit against H.C. Wainwright & Co., LLC and financial analyst, Oren Livnat in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws. According to the complaint the plaintiff alleges on behalf of purchasers of MannKind Corporation (NASDAQ:MNKD) securities between 4:03 AM Pacific Time on October 10, 2017 (7:03 AM Eastern Time) and 9:02 PM Pacific Time on October 10, 2017 (12:02 AM Eastern Time on October 11, 2017), that the defendants violated Federal Securities Laws. Shares of MannKind Corporation (NASDAQ:MNKD) rose from $1.85 per share in late September 2017 to as high as $6.71 per share on October 10, 2017. On October 10, 2017, Wainwright, through an announcement publicized by H.C. Wainwright & Co., LLC analyst, Livnat, initiated coverage of the MannKind Corporation (NASDAQ:MNKD) stock with a “Buy” rating and a $7 per share price target. At the time of H.C. Wainwright & Co., LLC’s statements, MannKind Corporation’s stock was trading at $5.33 per share. That night, MannKind Corporation announced a registered direct offering at an offering price of $6.00 per share. On this news, MannKind Corporation’s stock price fell to a close of $5.47 per share on October 11, 2011. Since then NASDAQ:MNKD shares declined to $3.96 per share on October 19, 2017. The plaintiff claims that Defendants’ statements were materially misleading for failure to disclose that just 15 hours following H.C. Wainwright & Co., LLC’s report on MannKind, MannKind would announce a registered direct offering.