San Diego, CA -- (SBWIRE) -- 09/02/2014 -- An investor, who purchased shares of Lannett Company, Inc. (NYSE:LCI), filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania over alleged violations of Federal Securities Laws by Lannett Company, Inc. in connection with certain allegedly false and misleading statements made between September 10, 2013 and July 16, 2014.

Investors who purchased shares of Lannett Company, Inc. (NYSE:LCI) have certain options and for certain investors are short and strict deadlines running. Deadline: October 27, 2014. NYSE:LCI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Lannett Company, Inc. (NYSE:LCI) common shares between September 10, 2013 and July 16, 2014, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that Defendants made allegedly false and/or misleading statements and/or failed to disclose that Lannett Company, Inc. was fixing, maintaining, and controlling prices of digoxin in violation of Connecticut antitrust laws, that Lannett Company, Inc. was allocating and dividing customers and territories with competitors relating to the sale of digoxin in violation of Connecticut antitrust laws, that Lannett Company, Inc.’s anticompetitive practices subjected Lannett to heightened regulatory scrutiny, including possible investigation by the Connecticut Office of the Attorney General ("CTAG"), and that as a result of the foregoing, Lannett Company, Inc.'s public statements were allegedly materially false and misleading at all relevant times.

Lannett Company, Inc. reported that its Total Revenue rose from $106.83 million for the 12 months period that ended on June 30, 2011 to $151.05 million for the 12 months period that ended on June 30, 2013 and that its Net Loss of $0.28 million for the 12 months period that ended on June 30, 2011 turned into a Net income of $13.32 million for the 12 months period that ended on June 30, 2013. Shares of Lannett Company, Inc. (NYSE:LCI) grew from $4.16 per share in November 2012 to as high as $51.19 per share on July 2, 2014.

Then on July 16, 2014, Lannett Company, Inc. announced that, "it has received interrogatories and subpoena from the State of Connecticut Office of the Attorney General concerning its investigation into pricing of digoxin. According to the subpoena, the Connecticut Attorney General is investigating whether anyone engaged in any activities that resulted in (a) fixing, maintaining or controlling prices of digoxin or (b) allocating and dividing customers or territories relating to the sale of digoxin in violation of Connecticut antitrust law." Shares of Lannett Company, Inc. declined from over $51 per share in early July 2014 to as low as $36.86 per share during July 17, 2014.

Those who purchased shares of Lannett Company, Inc. (NYSE:LCI) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com