A lawsuit was filed on behalf of investors in Diplomat Pharmacy Inc (NYSE: DPLO) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 03/19/2019 -- An investor, who purchased shares of Diplomat Pharmacy Inc (NYSE: DPLO), filed a lawsuit over alleged violations of Federal Securities Laws by Diplomat Pharmacy Inc.
Investors who purchased shares of Diplomat Pharmacy Inc (NYSE: DPLO) have certain options and for certain investors are short and strict deadlines running. Deadline: April 25, 2019. NYSE: DPLO investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On February 22, 2019, Diplomat Pharmacy Inc announced it would be postponing the release of its fourth quarter and full-year 2018 financial results because it will need to record a non-cash impairment charge related to its PBM business. More specifically, Diplomat Pharmacy Inc disclosed the "charge is expected to be equal to a significant portion of the PBM's Goodwill and Definite-lived intangible assets, which total approximately $630 million as of December 31, 2018, prior to impairment charges." Diplomat Pharmacy Inc also withdrew its preliminary 2019 full-year outlook provided in January.
The plaintiff claims that between February 26, 2018 through February 21, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Diplomat Pharmacy Inc had downplayed its success in integrating and growing its PBM business, which included LDI Integrated and National Pharmaceutical, two companies Diplomat had acquired in late 2017, that consequently, Diplomat Pharmacy Inc would need to record a non-cash impairment charge upwards of approximately $630 million relating to its PBM business and these 2017 acquisitions, that due to the foregoing, Diplomat Pharmacy Inc would withdraw its preliminary 2019 full-year outlook issued less than seven weeks prior, and that as a result, defendants' statements about Diplomat's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of Diplomat Pharmacy Inc (NYSE: DPLO) have certain options and should contact the Shareholders Foundation.
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