According to the law firm press release, Insys Therapeutics, Inc. ("Insys"), a specialty pharmaceutical company, develops and commercializes supportive care products. The Company markets Subsys, a sublingual fentanyl spray for breakthrough cancer pain in opioid-tolerant cancer patients in the United States. Its lead product candidate is Syndros, an orally administered liquid formulation of dronabinol. The Company is also developing Cannabidiol Oral Solution, a synthetic cannabidiol for childhood catastrophic epilepsy syndromes; and other product candidates, including other dronabinol line extensions and sublingual spray product candidates.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Insys had overstated its 2015 net revenue; (ii) Insys had misstated its sales allowances for 2016; (iii) accordingly, the Company lacked effective internal controls over financial reporting; and (iv) as a result of the foregoing, Insys’s public statements were materially false and misleading at all relevant times.

An amended Complaint was filed on July 31, 2017. A second amended Complaint was filed on October 27. Defendants filed a Motion to Dismiss the second amended Complaint on November 3. On June 12, 2018, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. On June 10. 2019, Insys filed a notice of bankruptcy in the Bankruptcy Court for the District of Delaware. The Court issued an Order staying the case on July 8. On September 3 the parties voluntarily dismissed the Company Issuer Defendant. Lead Plaintiff voluntarily dismissed claims against the remaining Defendants on March 4, 2021.