An investigation for investors in Lannett Company, Inc. (NYSE:LCI) shares over potential securities laws violations by Lannett Company, Inc. was announced and NYSE:LCI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/07/2016 -- An investigation on behalf of investors of Lannett Company, Inc. (NYSE:LCI) shares over potential securities laws violations by Lannett Company, Inc. and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Lannett Company, Inc. (NYSE:LCI), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Lannett Company, Inc. (NYSE:LCI) concerning whether a series of statements by Lannett Company, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Lannett Company, Inc. reported that its Total Revenue rose from $406.84 million for the 12 months period that ended on June 30, 2015 to $566.09 million for the 12 months period that ended on June 30, 2016 while its respective Net Income declined from $149.92 million to $44.78 million. Shares of Lannett Company, Inc. (NYSE:LCI) grew from $17.23 per share in March 2016 to as high as $36.75 per share in August 2016.
According to news reports United States prosecutors may file criminal charges against Lannett Company, Inc. by the end of 2016 for suspected price collusion. It was has reported that the, "antitrust investigation by the Justice Department, begun about two years ago, now spans more than a dozen companies and about two dozen drugs, according to people familiar with the matter. The grand jury probe is examining whether some executives agreed with one another to raise prices, and the first charges could emerge by the end of the year, they said." The companies identified as targets or relevant parties in the United States investigation include Mylan NV, Teva Pharmaceutical Industries Ltd, Allergan Plc, Lannett Co., Impax Laboratories Inc., Sun Pharmaceutical Industries Ltd., Mayne Pharma Group Ltd., Endo International Plc and Taro Pharmaceutical Industries Ltd.
Shares of Lannett Company, Inc. (NYSE:LCI) closed on November 4, 2016 at $18.05 per share.
Those who purchased shares of Lannett Company, Inc. have certain options and should contact the Shareholders Foundation.