Energy News / Shareholders Foundation, Inc.

NYSE:LCI Shareholder Notice: Investigation of Potential Wrongdoing at Lannett Company, Inc

Via: ReleaseWire

Updated 11:00 AM CST, Wed, January 24,2018

An investigation on behalf of current long term investors in Lannett Company, Inc. (NYSE:LCI) shares over possible breaches of fiduciary duty by certain officers and directors was announced.

San Diego, CA -- (SBWIRE) -- 01/24/2018 -- An investigation was announced for investors in NYSE:LCI shares concerning possible breaches of fiduciary duties by certain Lannett Company directors.

Investors who are investors in Lannett Company, Inc. (NYSE:LCI) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for investors in NYSE:LCI stocks follows a lawsuit filed against Lannett Company, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:LCI stocks, concerns whether certain Lannett Company, directors are liable in connection with the allegations made in that lawsuit.

The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that Lannett's drug pricing relied on unsustainable pricing methodologies, that Lannett lacked effective internal controls concerning its drug pricing methodologies, and that as a result, Lannett's public statements were materially false and misleading at all relevant times and spurred ongoing investigations by the State of Connecticut Office of the Attorney General and the U.S. Department of Justice. Additionally, media outlets reported that the underlying conduct would likely lead U.S. prosecutors to file criminal charges against Lannett by the end of 2016 for suspected price collusion.

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.

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

For more information on this press release visit:
http://www.sbwire.com/press-releases/nyselci-shareholder-notice-investigation-of-potential-wrongdoing-at-lannett-company-inc-921445.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com