Levi & Korsinsky announces the filing of a class action lawsuit in the USDC for the District of New Jersey on behalf of shareholders of Lipocine, Inc. (NASDAQ: LPCN) who purchased shares between June 30, 2015 and June 28, 2016.
The complaint alleges that throughout the Class Period, defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Lipocine’s filing of its New Drug Application for LPCN 1021, Lipocine’s lead product candidate, contained deficiencies; and (2) as a result, defendant’s statements about Lipocine’s business and operations were false and misleading and/or lacked a reasonable basis. On June 29, 2016, Lipocine announced that the U.S. Food and Drug Administration had issued a Complete Response Letter regarding the Company’s New Drug Application for LPCN 1021. According to the Complete Response Letter, the FDA has identified deficiencies related to the dosing algorithm for the label and concluded the application was not ready for approval in its present form.
If you suffered a loss in Lipocine you have until August 30, 2016 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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