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 -- INCY
NEW YORK, March 18, 2013 (GLOBE NEWSWIRE) -- 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") (Nasdaq: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,
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 firstname.lastname@example.org 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.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
Press spacebar to pause and continue. Press esc to stop.