Insys Therapeutics, Inc. Securities Litigation


Welcome to the Insys Therapeutics, Inc. Securities Litigation Website.

Overview

Distribution checks being mailed to eligible Class Members 5/15/2017

This website has been established to provide general information related to the Insys Therapeutics, Inc. (“Insys” or the “Company”) Securities Litigation. Plaintiffs alleged that Insys’s stock price was artificially inflated as a result of a series of untrue or materially misleading statements in and omissions from the Company’s public statements concerning the sales and marketing of SUBSYS, an extremely potent and potentially lethal drug which is heavily regulated by the FDA. Plaintiffs further contend that while the Company told investors that it had achieved its success through the hard work of its motivated sales force and through SUBSYS’s ability to provide immediate relief to cancer patients already heavily medicated by opiates, the Company engaged in various improper practices, including encouraging doctors to disregard FDA-mandated dosing restrictions through off-label sales to non-cancer patients and misrepresenting confidential patient information to obtain insurance coverage for patients. Defendants deny all wrongdoing or liability. Nonetheless, both parties have concluded that further conduct of the Litigation could be protracted and expensive, and that it was desirable that the Litigation be fully and finally settled in the manner and upon the terms and conditions agreed to in the settlement agreement.

After considering Lead Plaintiff’s motion for preliminary approval and the settlement agreement executed by Lead Plaintiff and Defendants, on June 2, 2015, The Honorable G. Murray Snow, District Court Judge for the United States District Court for the District of Arizona, granted a preliminary approval of the Settlement and certified a Settlement Class. The Court has scheduled a final approval hearing to assess the fairness and adequacy of the proposed Settlement for December 4, 2015 at 9:00 a.m. (MST) at the United States District Courthouse for the District of Arizona, 401 West Washington Street, Phoenix, Arizona 85003.

If you purchased publicly traded shares of Insys common stock between November 12, 2013 and May 14, 2014, inclusive, and incurred damages, you may be a Settlement Class Member.

The Settlement calls for a Settlement Fund to be established of $6,125,000.00 (six million, one-hundred twenty-five thousand) in cash. Your recovery will depend on the number of shares of Insys common stock you, and other Settlement Class Members who file claims, purchased and sold and the prices at which you, and the other Settlement Class Members who file claims, purchased and sold those shares.

The Court appointed the law firm of Glancy Prongay & Murray LLP to represent the Settlement Class Members. These lawyers are called Lead Counsel. You will not be personally liable for the fees and expenses incurred by these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice of Proposed Settlement of Class Action Motion for Attorneys’ Fees and Expenses, and Settlement Fairness Hearing (“Notice”) and the Stipulation of Settlement, both of which can be found and downloaded from this website. Please read the Notice and other documents provided carefully.

Important Dates and Documents: 
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Deadlines

October 28, 2015 - Postmark Deadline to Submit Claim

November 13, 2015 - Received Deadline to Object to the Settlement

November 13, 2015 - Postmark Deadline to request exclusion from the Settlement Class

December 4, 2015 - Court Hearing on Fairness of Settlement

May 15, 2017 - Distribution check mailing to eligible Class Members



Your Legal Rights and Options in this Settlement

SUBMIT A CLAIM

The only way to receive a payment.

OBJECT

You may write to the Court if you do not like this Settlement, the Plan of Allocation, Lead Counsel’s request for attorneys’ fees and expenses, or the reimbursement to Lead Plaintiff for costs and expenses.

EXCLUDE YOURSELF

Receive no payment. This is the only option that allows you to participate in another lawsuit against the Defendants relating to the class claims being released in this case.

GO TO A HEARING

You may ask to speak in Court about the fairness of the Settlement.

DO NOTHING

Receive no payment.