On or around 11/05/2018 (Date of order of distribution of settlement)
Filing Date: July 01, 2016
According to the law firm press release, the lawsuit alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) 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 (2) as a result, defendants’ statements about Lipocine’s business and operations were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
This case was transferred to the District of Utah on March 14, 2017.
On November 13, 2017, the Court denied Defendants' Motion to Dismiss.
The parties entered into a Stipulation of Settlement on March 9, 2018. On March 21, the Settlement was preliminarily approved. On July 9, the Court granted final approval of the Settlement and entered Final Judgment. On November 5, the Court authorized distribution of the net Settlement fund.
Company & Securities Information
Defendant: Lipocine Inc.
Industry: Major Drugs
Headquarters: United States
Ticker Symbol: LPCN
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.