NEW ORLEANS, Aug. 11, 2017 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until September 29, 2017 to file lead plaintiff applications in a securities class action lawsuit against IntelliPharmaCeutics International, Inc. (NasdaqCM:IPCI), if they purchased the Company’s shares between January 14, 2016 and July 26, 2017, inclusive (the “Class Period”).  This action is pending in the United States District Court for the Southern District of New York.

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About the Lawsuit

IntelliPharmaCeutics and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company failed to perform human abuse testing to support the New Drug Application (“NDA”) for Rexista; (ii) the Company failed to include studies conducted to support Rexista’s label claims regarding human abuse by various pathways; (iii) the Company was not submitting data to sufficiently support approval of the NDA; and (iv) as a result of the foregoing, IntelliPharmaCeutics’ financial statements were materially false and misleading at all relevant times.

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