NASDAQ GS
INSM

Insmed Incorporated

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Insmed Incorporated (NASDAQ GS: INSM)

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities that purchased the common stock of Insmed Incorporated (“Insmed” or the “Company”) (NASDAQ GS: INSM) between March 18, 2013 and June 8, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of Insmed during the Class Period, or purchased shares prior to the Class Period and still hold Insmed, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) the data on which Insmed’s European marketing authorization application (“MAA”) for Arikayce, its lead product candidate, relied was not likely to support approval by the European Medicines Agency (“EMA”) for the treatment of NTM lung disease; (2) Arikayce’s approval by the EMA for the treatment of NTM lung disease and subsequent commercialization in Europe were thus less likely and/or imminent than Insmed had led investors to believe; and (3) as a result of the foregoing, Insmed’s public statements were materially false and misleading at all relevant times.  As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on June 8, 2016, after the market closed, Insmed announced that it had withdrawn its MAA from the EMA for Arikayce for the treatment of NTM lung disease.  The Company stated that “During the May 2016 Committee for Medicinal Products for Human Use (CHMP) meeting, the CHMP indicated that the phase 2 study did not provide a sufficient amount of evidence to support an approval.  Insmed intends to resubmit its MAA when clinical data from its ongoing global phase 3 study are available.”

On this news, shares of Insmed dropped over 8%, closing at $11.02 per share on June 9, 2016, on heavy trading volume.

If you wish to serve as lead plaintiff, you must move the Court no later than September 13, 2016.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

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