Law Offices of Todd M. Garber Encourages Investors to Inquire About a Lead
Plaintiff Position in the Class Action Lawsuit Against Incyte Corporation --
LOS ANGELES, April 15, 2013 (GLOBE NEWSWIRE) -- The Law Offices of Todd M.
Garber announces that a class action lawsuit has been filed in the United
States District Court for the District of Delaware on behalf of a class (the
"Class") comprising all purchasers of the common stock of Incyte Corporation
("Incyte" or the "Company") (Nasdaq:INCY) between April 26, 2012 and August 1,
2012, inclusive (the "Class Period"). Investors who have losses of $100,000 or
more are encouraged to contact the firm for information concerning a lead
plaintiff position in the class action suit and have until May 6, 2013 to file
a motion with the Court to be appointed as lead plaintiff.
Incyte, a biopharmaceutical company, focuses on the discovery, development and
commercialization of proprietary small molecule drugs for oncology and
treatment of inflammation. The Complaint alleges that Incyte issued misleading
statements concerning demand for the Company's myelofibrosis drug, Jakafi. On
August 2, 2012, Incyte announced the Company's second quarter 2012 financial
results and disclosed that the sales growth of Jakafi had been much softer
during the second quarter of 2012 than investors and certain stock analysts
had been led to expect. In response to these disclosures, the price of Incyte
stock declined 22% from its August 1, 2012 close of $24.92 per share, to close
at $19.57 per share on August 2, 2012 on heavy trading volume.
If you are a member of the above-described Class, you may move the Court no
later than May 6, 2013 to serve as lead plaintiff; however, you must meet
certain legal requirements. To be a member of the Class you need not take any
action at this time.You may retain counsel of your choice or take no action
and remain an absent Class member.If you wish to discuss this action or have
any questions concerning this Notice or your rights or interests with respect
to these matters, please contact Todd M. Garber, Esquire, of the Law Offices
of Todd M. Garber, by telephone at 213-700-7262 or by email to
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
CONTACT: Todd M. Garber, Attorney at Law
Los Angeles, California
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