NEW ORLEANS, May 16, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 14, 2014 to file lead plaintiff applications in a securities class action lawsuit against INSYS Therapeutics, Inc. (Nasdaq:INSY), if they purchased the Company's securities during the period between May 1, 2013 and May 8, 2014, inclusive (the "Class Period"). This action is pending in the District of Arizona United States District Court.
What You May Do
If you purchased shares of INSYS and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 14, 2014.
About the Lawsuit
INSYS and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
On December 12, 2013, INSYS announced that it has received a document subpoena from the Department of Health and Human Services, which was investigating potential violations regarding INSYS's drug Subsys, a painkiller for cancer patients. On this news, the price of INSYS's shares fell by 17%.
On May 8, 2014, it was disclosed that a doctor was arraigned in federal court on charges of health care fraud and distribution of controlled substances. He allegedly prescribed Subsys to individuals who did not need it, billing Medicare for the prescriptions. On this news, the price of INSYS's shares plummeted by 17%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.