Navigation Links
Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Lannett Company, Inc.
Date:8/28/2014

WILMINGTON, Del., Aug. 28, 2014 /PRNewswire/ -- Rigrodsky & Long, P.A.:

  • Do you, or did you, own shares of Lannett Company, Inc. (NYSE: LCI)?
  • Did you purchase your shares before September 10, 2013, or between September 10, 2013 and July 16, 2014, inclusive?
  • Did you lose money in your investment in Lannett Company, Inc.?
  • Do you want to discuss your rights?

Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons or entities that purchased the common stock of Lannett Company, Inc. ("Lannett" or the "Company") (NYSE: LCI) between September 10, 2013 and July 16, 2014, 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 Lannett during the Class Period, or purchased shares prior to the Class Period and still hold Lannett, 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; or at: http://www.rigrodskylong.com/investigations/lannett-company-inc-lci.

Lannett develops, manufactures, markets and distributes generic versions of brand pharmaceutical products.  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 Company was fixing, maintaining, and controlling prices of digoxin, a drug used to treat congestive heart failure, in violation of Connecticut antitrust laws; (2) the Company was allocating and dividing customers and territories with competitors relating to the sale of digoxin in violation of Connecticut antitrust laws; (3) the Company's anticompetitive practices subjected Lannett to heightened regulatory scrutiny, including possible investigation by the Connecticut Office of the Attorney General ("CTAG"); and (4) as a result of the foregoing, Lannett'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 July 16, 2014, the Company issued a press release and filed a Form 8-K with the U.S. Securities and Exchange Commission announcing that the Company received interrogatories and a subpoena from the CTAG concerning its investigation into pricing and customer/territorial division of digoxin.

On this news, shares in Lannett plummeted more than 17%, closing at $39.04 per share on July 16, 2014, on unusually heavy trading volume.         

If you wish to serve as lead plaintiff, you must move the Court no later than October 27, 2014.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  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.

While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

CONTACT: 

Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
Peter Allocco
(888) 969-4242
(516) 683-3516
Fax: (302) 654-7530
info@rl-legal.com 
http://www.rigrodskylong.com


'/>"/>

SOURCE Rigrodsky & Long, P.A.
Copyright©2014 PR Newswire.
All rights reserved

Related medicine technology :

1. Poland & Turkey Pharmaceutical Market worth $15 billion & $21.5 billion Respectively by 2020
2. New Infographic Published - Overview of Medtech & Life Sciences Industry in San Diego
3. SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Investors of Class Action Against Galectin Therapeutics Inc. and Its Board of Directors and a Lead Plaintiff Deadline of September 29, 2014 -- GALT
4. The Leukemia & Lymphoma Society Provides Equity Financing to OncoPep to Support Clinical Trial for Myeloma Vaccine
5. Celsion to Present at the Rodman & Renshaw 16th Annual Healthcare Conference
6. Collaborative R&D Terms & Agreements in Pharma, Biotech and Diagnostics
7. Co-development Terms & Agreements in Pharma, Biotech and Diagnostics
8. DelMar Pharmaceuticals To Present At The 16th Annual Rodman & Renshaw Global Investment Conference
9. OSRAM ITOS PHASER 3000 Laser and LED Light Module Recognized With Prestigious R&D 100 Award
10. Columbia Laboratories to participate in the Rodman & Renshaw 16th Annual Global Investment Conference
11. Frost & Sullivan: Change in Demographics and Surge in Domestic Manufacturing Drive Asia-Pacific Medical Devices Market
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/29/2016)... Calif. , April 29, 2016  In ... is projected to shift from systems dependent on ... all types of modality CRT Medical monitors and ... there are a host of foreseeable benefits to ... concern; will existing modalities have to be replaced ...
(Date:4/29/2016)... PARIS , April 29, 2016 ... Jérôme Contamine, Directeur Financier ... la santé, publie ses résultats pour ... Financier du Groupe, Jérôme Contamine, commente ... Groupe et les perspectives pour le ...
(Date:4/28/2016)... April 28, 2016   Click here for ... Inc. (NYSE: DPLO), the nation,s largest independent specialty ... definitive agreement to acquire Valley Campus Pharmacy, Inc., ... a leading specialty pharmacy that provides individualized patient ... . In 2015, TNH generated approximately $400 ...
Breaking Medicine Technology:
(Date:5/2/2016)... Naperville, Illinois (PRWEB) , ... May 02, 2016 , ... ... our modernized mail back service. MedPro now offers its mail back service for ... this offer; we are now able to provide service to all of the clients ...
(Date:5/2/2016)... ... 02, 2016 , ... Further establishing itself as a leader in natural pet ... Value Boxes were selected from over 1,000 entrants as a winner and recipient of ... dental chews for dogs are a favorite product among pet-parents worldwide, as each whimsical ...
(Date:5/2/2016)... ... May 02, 2016 , ... Dr. Rassouli, dentist in Orange County, CA ... to the research, which was published in the “Journal of the American Geriatrics Society,” ... 5.4 million Americans have Alzheimer’s disease. The study found that dental problems may increase ...
(Date:5/2/2016)... ... May 02, 2016 , ... The 2016 World Ultimate & Guts Championship (WUGC) Mixed roster was ... made the cut. The WUGC is being held in London, England this year from June ... the men’s division, another gold in the women’s masters division, and a silver in the ...
(Date:5/2/2016)... ... May 02, 2016 , ... According to an American Psychological ... girls are sexually abused before the age of 18. Of those who survive, many ... story and others. , In her new book, Lyah! Lyah! Pants on Fyah!, ...
Breaking Medicine News(10 mins):