Lipocine Inc., a specialty pharmaceutical company, develops and commercializes drugs based on Hydroance, a drug delivery technology. It primarily focuses on developing oral versions of several hormones for use in men's and women's health.

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.