Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that the firms are investigating legal claims against the officers and Board of Directors of Incyte Corporation (“Incyte” or “Company”) (NasdaqGS: INCY) related to potential securities violations between April 26, 2012 and August 1, 2012 (the “Class Period”).
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
In a recently filed federal class action complaint, Incyte and certain of its officers and directors were charged with violating certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that defendants misrepresented its business success and future business prospects by misrepresenting and/or failing to disclose material aspects about the sales and use of its drug Jakafi. Amongst other things the complaint alleges that the Company made material misstatements in a press release issued on April 26, 2012 and in statements made by the company throughout the Class Period. Further, when the Company announced a softer sales growth that originally projected for 2Q 2012 and disclosed the true facts regarding the use and sales of Jakafi, the shares of Incyte dropped dramatically.
“Recent revelations about alleged improper business practices and procedures regarding key aspects of Incyte’s business and other misleading financial statements have prompted the firms to investigate possible breaches of fiduciary duties and other violations of state law by Incyte’s officers and directors. Based on our investigation, we are prepared to pursue litigation to preserve the company and the value of Incyte stock for all shareholders,” said shareholder rights attorney Willie Briscoe.