Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Pain Therapeutics, Inc. (“Pain Therapeutics” or the “Company”) (Nasdaq: PTIE).
Request more information now by clicking here: www.faruqilaw.com/PTIE
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that Pain Therapeutics’ new drug REMOXY was not approvable by the U.S. Food and Drug Administration (“FDA”) due to chemistry, manufacturing, and control deficiencies that caused unreliable results during laboratory tests.
On June 24, 2011, Pain Therapeutics announced that the Company had received a Complete Response Letter from the FDA denying the Company’s New Drug Application (“NDA”) for REMOXY. As a result of this shocking revelation, Company shares declined $3.94 per share or nearly 43%, to close at $5.30 per share on June 24, 2011.On June 27, 2011, the Company disclosed that the FDA’s Complete Response Letter raised concerns related to, among other things, the chemistry, manufacturing and controls sections of the NDA for REMOXY. In the aftermath of this disclosure, the Company’s shares declined an additional $1.37 per share or nearly 26%, to close at $3.93 per share on June 27, 2011. Take Action If you purchased Pain Therapeutics securities between February 3, 2011 and June 23, 2011 and would like to discuss your legal rights, visit www.faruqilaw.com/PTIE. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Pain Therapeutics’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential matter.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV