June 13, 2018 / 9:59 PM / 7 months ago

Drugmaker Insys must face shareholder lawsuit over accounting errors

Insys Therapeutics Inc must face a shareholder lawsuit accusing the drugmaker of concealing the declining profitability of its flagship opioid product after prosecutors revealed it paid doctors kickbacks to promote it, a federal judge has ruled.

U.S. District Judge Paul Crotty in Manhattan on Tuesday denied a motion by Insys, billionaire founder John Kapoor and two former executives to dismiss a proposed shareholder class action that was filed last year.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2HM9lFL

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