According to the law firm press release, Insys Therapeutics Incorporated ("Insys" or the Company) is a commercial-stage specialty pharmaceutical company that develops and commercializes supportive care products primarily designed to assist patients with pain management attributable to their disease, treatment, or therapy. The Company’s principal product and source of revenue is Subsys, a sublingual fentanyl spray designed to treat breakthrough cancer pain in opioid-tolerant patients.

The shareholder class action Complaint alleges that Insys and certain of its executive officers made a series of false and misleading statements, and failed to disclose material adverse facts, about the Company’s business and operations to investors during the Class Period. Specifically, the Defendants are alleged to have failed to disclose that: (i) the Company was engaged in the illegal and improper off-labeling marketing of Subsys; (ii) certain Insys employees were complicit in an illegal kickback scheme operated for the purpose of increasing prescriptions of Subsys; and (iii) as a result, the Company’s financial statements were materially false and misleading at all relevant times.

On June 3, 2016, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on June 24. Defendants filed a Motion to Dismiss the amended Complaint on January 18, 2017. On August 1, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

On June 10, 2019, the Company Issuer filed a Notice of Bankruptcy. On December 13, Lead Plaintiff filed a Consent Motion to voluntarily dismiss the Company Issuer.

On May 8, 2020, Lead Plaintiff and one of the Individual Defendants gave notice that they had reached a Settlement. The Court issued an Order granting Lead Plaintiff's Motion to voluntarily dismiss the Company Issuer on May 14. On June 5, the Court granted preliminary approval of the Settlement with the Individual Defendant.

On June 25, 2020, Lead Plaintiff and another of the Individual Defendants gave notice that they had reached a Settlement. The parties entered into a Stipulation and Agreement of Settlement on July 1. On July 2, the Court granted preliminary approval of the Settlement.

On July 21, 2020, Lead Plaintiff and another of the Individual Defendants gave notice that they had reached a Settlement. The Court granted preliminary approval of the Settlement on July 31.

On November 18, the Court granted final approval of the three Settlements and entered Final Judgment.