Intellipharmaceutics International Inc.
(TSX & Nasdaq: IPCI, FRA: I4AA)
Ontario Superior Court of Justice, Court File No.: CV-19-00614686-00CP
Andrew Morganti and Albert Pelletier have become members of Kim Spencer McPhee Barristers, P.C., and the authoritative page for this securities litigation can now be found at our new website.
THE INTELLIPHARMACEUTICS INTERNATIONAL INC. SECURITIES CLASS ACTION IS CERTIFIED FOR SETTLEMENT PURPOSES AND A HEARING DATE FOR SETTLEMENT APPROVAL IS SET
On June 25, 2021, the Ontario Superior Court of Justice (the “Court”) certified the statutory misrepresentation securities class action against Intellipharmaceutics International Inc. (“IPCI”) and Isa Odidi (IPCI’s CEO and Chairman) and set a date for the settlement approval hearing.
CLICK BELOW TO READ THE LONG-FORM NOTICE
This class action was commenced against IPCI and Isa Odidi in 2019. It is alleged that during the period from February 29, 2016 to and including July 26, 2017 (the “Class Period”), IPCI made misrepresentations and omissions regarding a New Drug Application made to the United States Food and Drug Administration for an opioid analgesic called Rexista. The parties have reached a proposed settlement of the class action, which is subject to approval by the Court (the “Agreement”). The Agreement is a compromise of disputed claims.