NEW YORK, NY --(Marketwired - August 30, 2014) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Lannett Company, Inc. ("Lannett" or the "Company") (
A complaint has been filed in the Eastern District of Pennsylvania on behalf of all persons who purchased or otherwise acquired Lannett securities between September 10, 2013 through July 16, 2014, inclusive (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, Lannett made false and/or misleading statements and/or failed to disclose that: (i) the Company was fixing, maintaining, and controlling prices of its congestive heart failure drug digoxin, violating Connecticut antitrust laws; (ii) Lannett further violated Connecticut antitrust laws by allocating and dividing customers and territories with competitors relating to the sale of digoxin; and (iii) the Company's anticompetitive practices caused Lannett to attract heightened regulatory scrutiny, including possible investigation by the Connecticut Office of the Attorney General ("CTAG").
On July 16, 2014, the Company announced that it had received interrogatories and a subpoena from CTAG regarding an investigation into Lannett's pricing and customer division of digoxin.
Following this news, the price of Lannett stock declined by $8.05, or over 17%, to close at $39.04 on July 16, 2014.
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Take Action
If you invested in Lannett stock or options between September 10, 2013 through July 16, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/LANNETT . You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com . Faruqi & Faruqi, LLP also encourages anyone with information regarding Lannett's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw .
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