The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Central District of California
on behalf of purchasers of MannKind Corp. (Nasdaq:MNKD) (“MannKind” or
the “Company”) securities during the period between August 10, 2015 and
January 5, 2016, inclusive (the “Class Period”). Investors with losses
in excess of $100,000 who wish to become proactively involved in the
litigation have until March 15, 2016 to seek appointment as lead
plaintiff.
If you have suffered a loss from investment in MannKind securities
purchased on or after August 10, 2015 and held through the revelation of
negative information during and/or at the end of the Class Period, as
described below, and would like to learn more about this lawsuit and
your ability to participate as a lead plaintiff, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616. No class has yet been certified in
the above action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must
apply to be appointed lead plaintiff and be selected by the Court. The
lead plaintiff will direct the litigation and participate in important
decisions including whether to accept a settlement for the Class in the
action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in Company securities during
the Class Period. Brower Piven also encourages anyone with
information regarding the Company’s conduct during the period in
question to contact the firm, including whistleblowers, former
employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period that the mandated pulmonary testing (or
spirometry) remained a significant issue impeding sales of Afrezza.
According to the complaint, following the January 5, 2016 disclosure
that Sanofi terminated its License and Collaboration Agreement with
MannKind due to a continued low level of prescriptions, the value of
MannKind shares declined substantially.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.
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