November 4, 2019 / 11:12 PM / 16 days ago

Securities class-action plaintiff pans Insys Ch. 11 liquidation plan

Insys Therapeutics Inc’s bankruptcy liquidation plan should be denied due to its injunction on future litigation, the lead plaintiff in a securities class action against the opioids maker said on Monday in filing.

Clark Miller, who is represented by Cross & Simon and Lowenstein Sandler, had sued Insys alleging it made false and misleading statements between 2014 and 2016 to inflate its stock price. In an objection filed in U.S. Bankruptcy Court in Delaware, Miller said the class action lawsuit must be excluded from the liquidation plan for it to be approved.

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