MannKind Corporation MNKD Securities Stock Fraud

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Company: MannKind Corporation
Ticker Symbol: MNKD
Class Period: Jun-25-10 to Jan-19-11
Date Filed: Feb-1-11
Lead Plaintiff Deadline: Apr-2-11
Court: Central District of California
West Hartford, CT: A lawsuit seeking class action status has been filed in the United States District Court for the Central District of California on behalf of purchasers of the common stock of MannKind Corporation ("MannKind" or the "Company") between June 25, 2010 and January 19, 2011, inclusive (the "Class Period").

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.

MannKind Corporation MNKD Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible MannKind Corporation securities class action lawsuit. Please fill in our form on the right to submit your complaint for a free evaluation.

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