NEW YORK, Nov. 21, 2016 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Ligand Pharmaceuticals Inc. (“Ligand”) (NASDAQ: LGND ) between November 9, 2015 and November 14, 2016 . You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of California. To get more information go to :
http://www.zlk.com/pslra/ligand-pharmaceuticals
or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Ligand overstated the value of certain Deferred Tax Assets by approximately $27.5 million; (2) Ligand’s outstanding convertible senior unsecured notes due 2019 should have been classified as short-term debt rather than long-term debt as of December 31, 2015; (3) Ligand did not maintain effective controls over the accuracy and presentation of the accounting for income taxes related to complex transactions; (4) in turn, Ligand lacked effective internal control over financial reporting; and (5) as a result, Defendants’ statements about Ligand’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in Ligand you have until January 17, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
