An investor in MannKind Corporation (NASDAQ:MNKD, filed a lawsuit over alleged violations of Federal Securities Laws by MannKind Corporation.
Investors who purchased shares of MannKind Corporation (NASDAQ:MNKD) have certain options and for certain investors are short and strict deadlines running. Deadline: March 15, 2016. NASDAQ:MNKD investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The plaintiff claims that Defendants issued certain allegedly false and misleading statements to investors and/or allegedly failed to disclose that contrary to Defendants’ assurances, the mandated pulmonary testing or spirometry was still a significant issue impeding sales of Afrezza, and as a result, Defendants’ statements about MannKind’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On January 5, 2016, MannKind announced the termination of its licensing pact with Sanofi-Aventis in the U.S. for the development and sale of its inhaled insulin product Afrezza. On that same day,a news report stated that a Sanofi spokesman said Afrezza continued to suffer from a low level of prescriptions, despite substantial sales efforts. Shares of MannKind Corporation (NASDAQ:MNKD) declined from as high as $10.52 per share in June 2014 to as low as $0.64 per share on January 6, 2016.
Those who purchased shares of MannKind Corporation (NASDAQ:MNKD) have certain options and should contact the Shareholders Foundation.
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