Levi & Korsinsky notifies shareholders of the commencement of a class action lawsuit in the USDC for the Eastern District of Pennsylvania on behalf of shareholders of Innocoll Holdings plc (NASDAQ: INNL) who purchased shares between March 17, 2016 and December 29, 2016.
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) as a result, Defendants’ statements about Innocoll’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On December 29, 2016, Innocoll announced it had received a Refusal to File letter from the U.S. Food & Drug Administration with respect to XARACOLL.
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.
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