Press release from Business Wire
Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against Incyte Corporation
Tuesday, April 02, 2013
Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against Incyte Corporation23:33 EDT Tuesday, April 02, 2013
LOS ANGELES (Business Wire) -- The Law Offices of Todd M. Garber announces that shareholders of Incyte Corporation (“Incyte” or the “Company”) (NASDAQ:INCY) have until May 6, 2013 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the District of Delaware. The lawsuit was filed on behalf of a class (the “Class”) comprising all purchasers of Incyte common stock between April 26, 2012 and August 1, 2012, inclusive (the “Class Period”).
Incyte, a biopharmaceutical company, focuses on the discovery, development and commercialization of proprietary small molecule drugs for oncology and treatment of inflammation. The Complaint alleges that Incyte issued misleading statements concerning demand for the Company's myelofibrosis drug, Jakafi. On August 2, 2012, Incyte announced the Company's second quarter 2012 financial results and disclosed that the sales growth of Jakafi had been much softer during the second quarter of 2012 than investors and certain stock analysts had been led to expect. In response to these disclosures, the price of Incyte stock declined 22% from its August 1, 2012 close of $24.92 per share, to close at $19.57 per share on August 2, 2012 on heavy trading volume.
If you are a member of the above-described Class, you may move the Court no later than May 6, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time. You may retain counsel of your choice or take no action and remain an absent Class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
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Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California