This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Faruqi & Faruqi, LLP Is Investigating Pain Therapeutics Inc. On Behalf Of Its Shareholders (PTIE)

NEW YORK, June 27, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and the enforcement of federal antitrust laws, is investigating potential wrongdoing at Pain Therapeutics Inc.  ("PTIE" or the "Company") (Nasdaq: PTIE).  The investigation focuses on whether certain executive officers and directors of PTIE breached their fiduciary duties by releasing false and misleading statements regarding its lead drug, REMOXY, and the likelihood that REMOXY would be approved by the Food and Drug Administration ("FDA").  REMOXY is marketed as a strong painkiller with a unique formulation designed to reduce potential risks of unintended use.

(Logo:  http://photos.prnewswire.com/prnh/20120119/MM38856LOGO)

Specifically, the investigation concerns possible breaches of fiduciary duties by the Company's executive officers and directors for failing to disclose that REMOXY was not approvable by the FDA due to chemistry, manufacturing and control deficiencies that caused inconsistent results during laboratory tests of REMOXY.  On June 24, 2011, the Company announced that a Complete Response Letter was received from the FDA rejecting the Company's New Drug Application ("NDA") for REMOXY.  To date, a new NDA for REMOXY has not been submitted to the FDA nor has the Company meaningfully updated investors regarding any plan to do so.

Request more information now by clicking here: www.faruqilaw.com/PTIE. There is no cost or obligation to you.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action and derivative litigation.  The firm is focused on providing exemplary legal services in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation.  The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.

If you hold PTIE shares and you would like to discuss your legal rights, visit www.faruqilaw.com/PTIE.  You can also contact us by calling Beth Keller toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to bkeller@faruqilaw.com.

Contact:

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,751.39 +121.12 0.69%
S&P 500 2,108.57 +15.32 0.73%
NASDAQ 5,111.7330 +22.5270 0.44%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs