Navigation Links
Robbins Umeda LLP Announces an Investigation of KV Pharmaceutical Company
Date:10/21/2011

SAN DIEGO, Oct. 21, 2011 /PRNewswire/ -- Robbins Umeda LLP, a shareholder rights litigation firm, has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at KV Pharmaceutical Company (NYSE: KV-A, KV-B).

(Logo: http://photos.prnewswire.com/prnh/20111014/MM87207LOGO)

Robbins Umeda LLP's investigation focuses on whether officials at KV Pharmaceuticals breached their fiduciary duties to shareholders, maintained woefully inadequate controls, and wasted corporate assets to the detriment of the company and investors.  In particular, the firm is investigating allegations that officials at the company caused KV Pharmaceuticals to misrepresent the extent of expanded patent access granted by the U.S. Food and Drug Administration (the "FDA") for its Makena product line.  After gaining FDA approval, officials at the company made the decision to increase the price of Makena by over 1490% to $1,500.  

On March 17, 2011, two United Stated Senators sent a letter to the Federal Trade Commission stating that "KV Pharmaceuticals actions will result in diminished access to appropriate healthcare for women and result in increased preterm birth." Additionally, on March 30, 2011, the FDA issued a statement that it would not take enforcement action against companies that manufactured compound or generic versions of Makena.

Since these facts have emerged, KV Pharmaceuticals has been forced to lower the price of its Makena product line.  In addition, the company is increasingly the subject of costly public and legal scrutiny.  These events have apparently taken its toll on KV Pharmaceutical's stock price.  After recently trading as high as $13.07 per share on March 8, 2011, shares of KV Pharmaceuticals closed on October 19, 2011, at just $1.39 per share.  

If you own shares of KV Pharmaceuticals and would like more information about your rights, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or via the shareholder information form on our website.  

Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits. The law firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career shareholder rights attorneys. For more information, please go to http://www.robbinsumeda.com.

Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/kv-pharmaceuticals/

Attorney Advertising.


'/>"/>
SOURCE Robbins Umeda LLP
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Robbins & Myers Announces Regular Quarterly Cash Dividend
2. Robbins & Myers Announces Fourth Quarter and Full Year 2009 Results
3. Robbins & Myers To Release First Quarter Fiscal 2010 Financial Results
4. Robbins & Myers to Release Second Quarter Fiscal 2010 Financial Results
5. Robbins & Myers Announces Regular Quarterly Cash Dividend
6. Robbins & Myers to Present at KeyBanc Capital Markets Conference
7. Robbins & Myers to Present at Bairds 2010 Industrial Conference November 9, 2010
8. Robbins Geller Rudman & Dowd LLP Announces Notice of Hearing to Determine Approval of Proposed Settlement of Class Action
9. Robbins & Myers to Release Financial Results for Second Quarter Fiscal 2011
10. Robbins & Myers Completes Sale of Romaco Businesses
11. Robbins & Myers Announces Regular Quarterly Cash Dividend
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... Mass. and SAN CLEMENTE, Calif. , ... California -based mobile pulmonary function testing company, is now able ... PFT devices developed by ndd Medical Technologies , Inc. ... testing done in hospital-based labs.  Thanks to ndd,s EasyOne PRO ® ... , can get any needed testing done in the comfort ...
(Date:6/24/2016)... , June 24, 2016  Arkis BioSciences, ... less invasive and more durable cerebrospinal fluid treatments, ... funding.  The Series-A funding is led by Innova ... Fund, and other private investors.  Arkis, new financing ... instrumentation and the market release of its in-licensed ...
(Date:6/23/2016)...  In a startling report released today, National Safety Council ... a comprehensive, proven plan to eliminate prescription opioid overdoses. ... states are tackling the worst drug crisis in recorded U.S. history, ... Kentucky , New Mexico , ... the 28 failing states, three – Michigan , ...
Breaking Medicine Technology:
(Date:6/26/2016)... (PRWEB) , ... June 26, 2016 , ... Brent Kasmer, a legally blind and certified ... be personalized through a fitness app. The fitness app plans to fix the two major ... only offer a one size fits all type program , They don’t eliminate ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... "With 30 ... their specific project," said Christina Austin - CEO of Pixel Film Studios. , ... and all within Final Cut Pro X . Simply select a ProHand generator ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... Conventional wisdom ... of success. In terms of the latter, setting the bar too high can result ... more than just slow progress toward their goal. , Research from PsychTests.com ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Pulmonary Hypertension Association ... it will receive two significant new grants to support its work to advance ... 25th anniversary by recognizing patients, medical professionals and scientists for their work in ...
(Date:6/24/2016)... Plano, TX (PRWEB) , ... June 24, 2016 , ... ... taking part in Genome magazine’s Code Talker Award, an essay contest in which patients ... for an award to be presented at the 2016 National Society of Genetic Counselors ...
Breaking Medicine News(10 mins):