STEVENSON, Md. -- (Business Wire)
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 District of New Jersey on
behalf of purchasers of Insmed Incorporated (Nasdaq: INSM) (“Insmed” or
the “Company”) securities during the period between March 18, 2013 and
June 8, 2016, inclusive (the “Class Period”). Investors who wish to
become proactively involved in the litigation have until September 13,
2016 to seek appointment as 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 Insmed securities during
the Class Period. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff. No class has yet
been certified in the above action.
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 data on which Insmed’s European
marketing authorization application (“MAA”) relied for Arikayce, was not
likely to support approval by the European Medicines Agency (“EMA”) for
the treatment of NTM lung disease, therefore making Arikayce’s approval
by the EMA for the treatment of NTM lung disease and subsequent
commercialization in Europe less likely and/or imminent than Insmed had
led investors to believe.
According to the complaint, following the June 8, 2016 revelation that
Insmed had withdrawn its MAA from the EMA for Arikayce for the treatment
of NTM lung disease with the intent to resubmit its MAA when clinical
data from its ongoing global phase 3 study becomes available, the value
of Insmed shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in
Insmed securities purchased on or after March 18, 2013 and held through
the revelation of negative information during and/or at the end of the
Class Period 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. Brower Pivenalso 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.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160726006532/en/
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
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