NEW YORK, Nov. 19, 2019 /PRNewswire/ -- Scott+Scott Attorneys at Law LLP ("Scott+Scott"), a national securities and consumer rights litigation firm, is investigating whether certain directors and officers of Lipocine Inc. ("Lipocine") (NASDAQ: LPCN) breached their fiduciary duties to Lipocine and its shareholders. If you are a Lipocine shareholder, you are encouraged to contact attorney Joe Pettigrew with Scott+Scott for additional information at (844) 818-6982 or jpettigrew@scott-scott.com.
Scott+Scott is investigating whether members of Lipocine's board of directors made, or allowed Lipocine to make, false and/or misleading statements and/or failed to disclose that: (i) the results from Lipocine's clinical studies of TLANDO, Lipocine's product candidate for testosterone replacement therapy, were insufficient to demonstrate the drug's efficacy; (ii) accordingly, Lipocine's third New Drug Application ("NDA") for TLANDO was highly likely to be found deficient by the U.S. Food and Drug Administration ("FDA"); and (iii) as a result, Lipocine's public statements were materially false and misleading at all relevant times.
On November 11, 2019, Lipocine announced receipt of a Complete Response Letter ("CRL") from the FDA regarding its NDA for TLANDO. Lipocine disclosed that among other things, "[t]he CRL identified one deficiency stating the efficacy trial did not meet the three secondary endpoints for maximal testosterone concentrations." On this news, Lipocine's stock price fell $1.93 per share, or 70.7%, to close at $0.80 per share on November 11, 2019.
What You Can Do
If you are a Lipocine shareholder, you may have legal claims against Lipocine's directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at (844) 818-6982 or jpettigrew@scott-scott.com.
About Scott+Scott
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.
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CONTACT:
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 17th Floor, New York, NY 10169
(844) 818-6982
jpettigrew@scott-scott.com
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SOURCE Scott+Scott Attorneys at Law LLP