A lawsuit was filed on behalf of investors in Concordia International Corp (NASDAQ:CXRX) shares over alleged securities laws violations and NASDAQ:CXRX investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/24/2016 -- An investor, who purchased shares of Concordia International Corp (NASDAQ:CXRX), filed a lawsuit in New York over alleged Securities Laws violations by Concordia International in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Concordia International Corp (NASDAQ:CXRX) have certain options and for certain investors are short and strict deadlines running. Deadline: October 14, 2016. NASDAQ:CXRX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff alleges on behalf of purchasers of Concordia International Corp (NASDAQ:CXRX) common shares between November 12, 2015, and August 12, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 12, 2015, and August 12, 2016 the defendants made false and/or misleading statements and/or failed to disclose that the Company was experiencing a substantial increase in market competition against the Company's drug, Donnatal, and other products, that , as a result, the Company's financial results would suffer, and the Company would be forced to suspend its dividend, and that, as a result of the foregoing, Defendants' statements about Concordia's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On August 12, 016, Concordia International Corp announced its second quarter 2016 results. Among other things, Concordia International Corp also updated its full year 2016 financial guidance and announced that Adrian de Saldanha, Concordia's Chief Financial Officer, was leaving the Company, and that Concordia's Board unanimously agreed to suspend the Company's $0.075 quarterly dividend. Shares of Concordia International Corp (NASDAQ:CXRX) declined from $84.17 per share in September 2015 to as low as $9.08 per share on August 15, 2016.
On August 23, 2016, NASDAQ:CXRX shares closed at $9.35 per share.
Those who purchased shares of Concordia International Corp 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