NEW YORK–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24XENT&src=ctag” target=”_blank”gt;$XENTlt;/agt; lt;a href=”https://twitter.com/hashtag/ClassAction?src=hash” target=”_blank”gt;#ClassActionlt;/agt;–Scott+Scott
Attorneys at Law LLP (“Scott+Scott”), an international shareholder
and consumer rights litigation firm, is notifying investors that a
securities class action lawsuit has been filed against Intersect ENT,
Inc. (“Intersect” or the “Company”) (NASDAQ: XENT) and other defendants,
related to alleged violations of federal securities laws. On news that
the Company faced challenges with the launch of SINUVA, a sinus implant
used to treat patients who had previously undergone sinus surgery yet
continue to suffer, Intersect’s share price fell $6.30, or nearly 20%,
to close at $26.05 on August 1, 2018. Thereafter, Intersect’s stock
dropped again on news that the Company experienced a first quarter 2019
loss of $10.8 million, lowered its guidance for the remainder of 2019,
and that its longtime CEO was resigning.
If you purchased Intersect stock between August 1, 2018 and May 6,
2019, you are encouraged to contact Jonathan Zimmerman at (888) 398-9312
for more information.
Intersect is a commercial drug delivery company that purports to develop
products for patients with ear, nose and throat conditions.
According to the lawsuit, defendants made false and/or misleading
statements and/or failed to disclose material adverse facts about the
Company’s business, operations, and prospects. Specifically: (1) the
Company lacked adequate reimbursement representatives to ensure
physicians had access to SINUVA; (2) that, as a result, the Company’s
sales force would focus on ensuring reimbursement; (3) that, as a
result, the Company’s sales representatives were less focused on driving
sales; (4) that physicians were less likely to adopt the Company’s
SINUVA due to transaction costs associated with seeking reimbursement;
(5) that the Company would increase staffing to address these issues;
and (6) that, as a result of the foregoing, Defendants’ positive
statements about the Company’s business, operations, and prospects were
materially misleading and/or lacked a reasonable basis.
What You Can Do
If you purchased Intersect shares between August 1, 2018 and May 6,
2019, inclusive, or if you have questions about this notice or your
legal rights, please contact attorney Jonathan Zimmerman at (888)
398-9312, or at [email protected],
or visit the Intersect page on our website at https://scott-scott.com/case/intersect-ent-inc/.The
lead plaintiff deadline is July 15, 2019.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities,
antitrust, and employee retirement plan actions throughout the United
States. The firm represents pension funds, foundations, individuals, and
other entities worldwide with offices in New York, London, Connecticut,
California, and Ohio.
Attorney Advertising
Contacts
Jonathan Zimmerman
Scott+Scott
Attorneys at Law LLP
230 Park Ave, 17th
Floor, NY, NY 10169
(888) 398-9312
[email protected]
