NEW YORK, March 16, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of INSYS Therapeutics, Inc. ("INSYS" or the "Company") (NASDAQ: INSY). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether INSYS and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On March 15, 2017, post-market, INSYS announced that it would delay the release of its financial results for the quarter and year ended December 31, 2016. INSYS advised investors that "[t]he Audit Committee of the Company's Board of Directors has been conducting an independent review of the Company's processes related to estimation of, and increases to, certain sales allowances recorded during 2016, with a potential reduction of 2015 net revenue and pre-tax income not expected to exceed $5 million, as well as extended payment terms offered to certain customers during the third quarter of 2016."
On this news, INSYS's share price has fallen as much as $0.75, or 7.11%, during intraday trading on March 16, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP
