|Class Period:||Jun-25-10 to Jan-19-11|
|Lead Plaintiff Deadline:||Apr-2-11|
|Court:||Central District of California|
The Complaint charges MannKind and certain of its officers and directors violated federal securities laws by issuing materially false statements regarding the Company's business and prospects for its lead product candidate, AFREZZA® (insulin human [rDNA origin]) Inhalation Powder ("AFREZZA") for the treatment of adult patients with Type 1 and Type 2 diabetes. Specifically, defendants concealed the following: (i) MannKind failed to disclose that the U.S. Food and Drug Administration ("FDA") had issues with the clinical utility of AFREZZA which might inhibit approval; (ii) AFREZZA was a riskier product than investors were led to believe and would require additional risk disclosure to patients if approved; (iii) the reasons for the FDA's delay in approval of AFREZZA prior to the beginning of the Class Period were not limited to the inspection of the European facility as defendants had stated; and (iv) given these factors, defendants knew it was highly doubtful that FDA approval would be forthcoming.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.