Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Incyte Corporation
Glancy Binkow & Goldberg LLP announces that purchasers of the common
stock of Incyte Corporation (“Incyte” or the “Company”) (NASDAQ:INCY)
between April 26, 2012 and August 1, 2012 (the “Class Period’) have
until May 6, 2013 to file a motion with the Court to be appointed as
lead plaintiff. The shareholder lawsuit was filed in the United States
District Court for the District of Delaware.
Incyte, a biopharmaceutical company, focuses on the discovery,
development and commercialization of proprietary small molecule drugs
for oncology and treatment of inflammation. The Complaint alleges that
Incyte issued misleading statements concerning demand for the Company’s
myelofibrosis drug, Jakafi.
On August 2, 2012 Incyte announced the Company’s second quarter 2012
financial results and disclosed that the sales growth of Jakafi had been
much softer during the second quarter of 2012 than investors and certain
stock analysts had been led to expect. In response to these disclosures,
the price of Incyte stock declined 22% from its August 1, 2012 close of
$24.92 per share, to close at $19.57 per share on August 2, 2012 on
heavy trading volume.
If you are a member of the Class described above, you have until May 6,
2013 to move the Court to serve as lead plaintiff; however, you must
meet certain legal requirements. To be a member of the Class you need
not take action at this time; you may retain counsel of your choice or
take no action and remain an absent Class member. To learn
more about this action, or if you have any questions concerning this
Notice or your rights or interests with respect to these matters, please
contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925
Century Park East, Suite 2100, Los Angeles, California 90067, by
telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
