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LOS ANGELES, July 10, 2017 -- Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Intra-Cellular Therapies, Inc. (“Intra-Cellular” or the “Company”) (Nasdaq:ITCI) regarding possible violations of federal securities laws from August 12, 2014 through April 28, 2017, inclusive (the “Class Period”). Investors who purchased or otherwise acquired Intra-Cellular shares during the Class Period should contact the firm by the July 11, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at [email protected].
No class has been certified in the above action yet, and until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The Complaint alleges that during the Class Period, Intra-Cellular made false and/or misleading statements and/or failed to disclose: that findings related to toxicity in animals treated with lumateperone (ITI-007) were observed; that these findings posed another safety concern regarding lumateperone; and that as a result of the above, the Company’s public statements were materially false and misleading at all relevant times.
On August 4, 2016, the Company’s Chief Executive Officer, Sharon Mates, touted the “efficacy and safety of ITI-007 for the treatment of schizophrenia.” On May 1, 2017, Intra-Cellular disclosed that the U.S. FDA requested information from the Company in order to verify whether or not there are safety risks associated with long term exposure of ITI-007 to patients. After this news was released, the Company’s stock price decreased materially, which harmed investors according to the Complaint.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
This press release may be considered Attorney Advertising in certain jurisdictions under the applicable law and ethical rules.
Contact: Lundin Law PC Brian Lundin, Esq. Telephone: 888-713-1033 Facsimile: 888-713-1125 [email protected] http://lundinlawpc.com/
