SAN DIEGO, July 25, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in New Jersey on behalf of certain purchasers of shares of Lipocine Inc (NASDAQ:LPCN) over alleged Securities Laws Violations by Lipocine Inc. The lawsuit seeks to recover damages for certain NASDAQ:LPCN investors.
Investors who purchased shares of Lipocine Inc (NASDAQ:LPCN) have certain options and for certain investors there are short and strict deadlines running. Deadline: August 30, 2016. NASDAQ:LPCN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The plaintiff alleges that 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 declined to as low as $2.51 per share on June 29, 2016
Those who purchased Lipocine Inc (NASDAQ:LPCN) shares should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.