MannKind Corp. Shareholder Alert: Former SEC Attorney Willie Briscoe & Powers Taylor Investigate Possible Breaches of Fiducia...

Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against MannKind Corp. (“MannKind”) (NASDAQ: MNKD) and several officers and directors for acts taken during the period of August 10, 2015 through January 5, 2016 (the “Class Period”).

Shareholders who suffered a loss during the class period have until March 15, 2016 to seek appointment as lead plaintiff. If you lost more than $150,000.00 from shares purchased during the class period and wish to take a more proactive role in the litigation, you are urged to contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at [e-mail], Patrick Powers at Powers Taylor LLP via email at [e-mail], or call toll free at [phone]. There is no cost or fee to you.

According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants failed to disclose during the Class Period that the mandated pulmonary testing (or spirometry) remained a significant issue impeding sales of Afrezza. On January 5, 2016, MannKind issued a press release announcing the termination of its license and collaboration agreement with pharmaceutical distributor Sanofi-Aventis. That same day, Bloomberg reported that Sanofi terminated the agreement with MannKind due to low level of prescriptions despite Sanofi’s best efforts. Then, on January 6, 2016, an LA Times article stated that Afrezza was unsuccessful because the doctors tasked with carrying out FDA-mandated lung testing on Afrezza patients were unfamiliar with the tests, and didn’t prescribe Afrezza as a result. MannKind stock dropped significantly immediately following these announcements.

The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160125006457/en/

The Briscoe Law Firm, PLLCWillie Briscoe, [e-mail] Taylor LLPPatrick Powers, [e-mail]