An investigation on behalf of investors in Landec Corporation (NASDAQ: LNDC) shares over potential wrongdoing at Landec Corporation was announced and NASDAQ: LNDC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/03/2020 -- Certain directors of Landec Corporation are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Landec Corporation (NASDAQ: LNDC) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Landec directors breached their fiduciary duties and caused damage to the company and its shareholders.
Santa Clara, CA based Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. Landec Corporation reported that its Total Revenue rose from $524.27 million for the 12 months period that ended on May 31, 2018 to $557.559 million for the 12 months period that ended on May 31, 2019, and that its Net Income over those time periods declined from $24.82 million to $0.411 million.
On January 2, 2020, Landec Corporation disclosed investigations by the U.S. Securities & Exchange Commission and Department of Justice regarding "potential environmental and Foreign Corrupt Practices Act ('FCPA') compliance matters associated with regulatory permitting" at a manufacturing plant in Mexico owned by Yucatan Foods, which Landec acquired in December 2018.
Shares of Landec Corporation (NASDAQ: LNDC) declined from $12.09 per share on December 19, 2019 to as low as $7.53 per share on March 25, 2020.
Those who purchased shares of Landec Corporation (NASDAQ: LNDC) have certain options and should contact the Shareholders Foundation.
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