An investigation on behalf of investors in NASDAQ:AKRX shares over possible breaches of fiduciary duty by certain directors was announced and NASDAQ:AKRX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/14/2016 -- Certain directors of Akorn, Inc are under investigation over possible wrongdoing. The investigation was announced on behalf of current long-term investors in shares of Akorn, Inc. concerning potential breaches of fiduciary duties by certain directors.
Investors who are current long term investors in Akorn, Inc. (NASDAQ:AKRX) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm for investors in NASDAQ:AKRX stocks follows a lawsuit filed recently against Akorn, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:AKRX stocks, concerns whether certain Akorn directors are liable in connection with the allegations made in that lawsuit.
On March 4, 2015 a lawsuit was filed against Akorn, Inc over alleged securities laws violations. The plaintiff claims that defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that as of December 31, 2014, more than eight months after it acquired Hi-Tech and four months after it acquired VersaPharm, Akorn did not yet integrate those subsidiaries into the Company's centralized accounting department and accounting systems, that certain financial and other related data related to Hi-Tech and VersaPharm, which require inclusion in Akorn's annual report to be filed with the SEC on Form 10-K, could not be timely collected and compiled, that due to the aforementioned issues, the Company would be unable to timely complete its assessment of the effectiveness of its internal control over financial reporting as of December 31, 2014, that Akorn's internal control over financial reporting was ineffective and material weaknesses existed relating to the completeness and accuracy of underlying data used in the determination of significant estimates and accounting transactions and accurate and timely reporting of its financial results and disclosures in its Form 10-K, and that as a result of the foregoing, Akorn's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Akorn, Inc. have certain options and should contact the Shareholders Foundation.
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