SHAREHOLDER ALERT: The Law Firm of Levi & Korsinsky Notifies Investors with Losses on Their Investment in Incyte Corporation of Class Action Lawsuit and the May 6, 2013 Lead Plaintiff Deadline
Levi & Korsinsky announces that a class action lawsuit has been
commenced in the United States District Court for the District of
Delaware on behalf of investors who purchased Incyte Corporation
(“Incyte” or the “Company”) (NasdaqGS: INCY) stock between April 26,
2012 and August 1, 2012 (the “Class Period”).
For more information, click here: http://zlk.9nl.com/incyte-incy/.
According to the complaint, Incyte’s reported fourth quarter 2011 and
first quarter 2012 sales were artificially inflated due to a large
number of advanced-stage myelofibrosis patients being prescribed the
drug upon FDA approval in November 2011--patients who had been too sick
to participate in the clinical trials.
On August 2, 2012, Incyte disclosed that Jakafi sales growth had been
much softer during the second quarter of 2012 than investors had been
led to expect. Defendants also disclosed that many of the new patients
prescribed Jakafi were so sick they would not have been eligible for the
Phase III trial. Defendants conceded that while prescriptions to these
patients had increased sales revenues, these were not revenues that
would continue for the suggested three years on average that defendants
claimed, as certain patients died. In response to these disclosures, the
price of Incyte stock fell from its August 1, 2012 close of $24.92 per
share to close at $19.57 per share on August 2, 2012.
If you suffered a loss in Incyte you have until May 6, 2013 to
request that the Court appoint you as lead plaintiff. Your ability to
share in any recovery doesn’t require that you serve as a lead
plaintiff. To obtain additional information, contact Joseph E. Levi,
Esq. either via email at jlevi@zlk.com
or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/incyte-incy/.
Levi & Korsinsky is a national firm with offices in New York, New
Jersey, and Washington D.C. The firm has extensive expertise in
prosecuting securities litigation involving financial fraud,
representing investors throughout the nation in securities and
shareholder lawsuits. Attorney advertising. Prior results do not
guarantee similar outcomes.