A lawsuit was filed on behalf of investors in NASDAQ:LPCN shares over alleged securities laws violations and NASDAQ:LPCN investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/06/2016 -- An investor, who purchased shares of Lipocine Inc (NASDAQ:LPCN), filed a lawsuit in Jersey over alleged Securities Laws violations by Lipocine Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Lipocine Inc (NASDAQ:LPCN) have certain options and for certain investors are short and strict deadlines running. Deadline: August 30, 2016. NASDAQ:LPCN investors should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
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's filing of its New Drug Application to the U.S. Food and Drug Administration for LPCN 1021, Lipocine's lead product candidate, contained deficiencies, and that as a result, defendants' statements about Lipocine's business and operations were false and misleading and/or lacked a reasonable basis.
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 5, 2016, NASDAQ:LPCN shares closed at $3.44 per share.
Those who purchased shares of Lipocine Inc have certain options and should contact the Shareholders Foundation.
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