Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against Incyte Corporation

Tue Apr 2, 2013 11:33pm EDT

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LOS ANGELES--(Business Wire)--
The Law Offices of Todd M. Garber announces that shareholders of Incyte
Corporation ("Incyte" or the "Company") (NASDAQ:INCY) have until May 6, 2013 to
move for lead plaintiff status in the shareholder lawsuit filed in the United
States District Court for the District of Delaware. The lawsuit was filed on
behalf of a class (the "Class") comprising all purchasers of Incyte common stock
between April 26, 2012 and August 1, 2012, inclusive (the "Class Period"). 

Incyte, a biopharmaceutical company, focuses on the discovery, development and
commercialization of proprietary small molecule drugs for oncology and treatment
of inflammation. The Complaint alleges that Incyte issued misleading statements
concerning demand for the Company`s myelofibrosis drug, Jakafi. On August 2,
2012, Incyte announced the Company`s second quarter 2012 financial results and
disclosed that the sales growth of Jakafi had been much softer during the second
quarter of 2012 than investors and certain stock analysts had been led to
expect. In response to these disclosures, the price of Incyte stock declined 22%
from its August 1, 2012 close of $24.92 per share, to close at $19.57 per share
on August 2, 2012 on heavy trading volume. 

If you are a member of the above-described Class, you may move the Court no
later than May 6, 2013 to serve as lead plaintiff; however, you must meet
certain legal requirements. To be a member of the Class you need not take any
action at this time. You may retain counsel of your choice or take no action and
remain an absent Class member. If you wish to discuss this action or have any
questions concerning this Notice or your rights or interests with respect to
these matters, please contact Todd M. Garber, Esquire, of the Law Offices of
Todd M. Garber, by telephone at 213-700-7262 or by email to
info@toddgarberlaw.com. 

This press release may be considered Attorney Advertising in some jurisdictions
under the applicable law and ethical rules.

Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
213-700-7262
info@toddgarberlaw.com

Copyright Business Wire 2013

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