Intellipharmaceutics International Inc. (IPCI)

[WeeZuhl]

Those pesky material facts...



How many class action suits are pending at this time? That's probably where the $12 million went... lawyers for the Odidi's.




https://ih.advfn.com/stock-market/NASDAQ/intellipharmaceutics-international-inc-mm-IPCI/stock-news/79352433/prospectus-filed-pursuant-to-rule-424b3-424b3

On February 21, 2019, the Company and its CEO, Dr. Isa Odidi, received a Statement of Claim concerning an action against them in the Superior Court of Justice of Ontario under the caption Victor Romita, plaintiff, and Intellipharmaceutics International Inc and Isa Odidi, defendants, . The action seeks certification as a class action and alleges that certain public statements made by the Company in the period February 29, 2016 to July 26, 2017 knowingly or negligently contained or omitted material facts concerning the Company’s NDA for Oxycodone ER abuse-deterrent oxycodone hydrochloride extended release tablets. The plaintiff alleges that he suffered loss and damages as a result of trading in the Company’s shares on the Toronto Stock Exchange during the above-noted period. The claim seeks, among other remedies, unspecified damages, legal fees and court and other costs as the court may permit. At this time, the action has not been certified as a class action. The Company intends to vigorously defend against the claims asserted in this action.