NEW YORK, March 23, 2017 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Innocoll Holdings, plc (“Innocoll” or the “Company”) (NASDAQ: INNL ) and certain of its officers, on behalf of shareholders who purchased Innocoll securities between November 3, 2016 through December 29, 2016, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/innl .
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Innocoll’s New Drug Application (“NDA”) submission to the FDA in October 2016 for XARACOLL was incomplete; (2) due to the incomplete NDA submission, XARACOLL would not be approved in 2017 as investors were led to believe; and (3) consequently, Defendants’ statements regarding Innocoll’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On December 29, 2016, Innocoll revealed that it had received a Refusal to File letter from the U.S. Food & Drug Administration (“FDA”) regarding its New Drug Application for XARACOLL, a postsurgical pain treatment and the Company’s lead product candidate. Innocoll said that the FDA stated that XARACOLL should have been categorized as a drug/device combination which would necessitate additional information. Following this news, Innocoll stock has dropped up to 66%, damaging investors.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/innl or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Innocoll you have until March 27, 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com
