NEW YORK, Aug. 28, 2014 /PRNewswire/ -- Harwood Feffer
LLP (www.hfesq.com) is investigating potential claims against the
board of directors of Lannett Company, Inc. ("Lannett" or the
"Company") (NYSE: LCI), concerning whether the board has breached
its fiduciary duties to shareholders.
Between 2013 and 2014, certain of the Company's officers and
directors made statements about the Company's business concerning
the sale of digoxin, a drug used for treatment of heart
failure. However, on July 15,
2014, Lannett received a letter of inquiry from the
Connecticut Attorney General
concerning its investigation into the pricing and marketing of
digoxin. Following the issuance of this announcement, on
July 16, 2014, the value of Lannett's
common stock declined more than 27 percent.
A securities class action filed in the United States District
Court for the Eastern District of Pennsylvania alleges that certain officers and
directors at Lannett issued a series of false and misleading
statements to investors regarding the company's business.
Specifically, these officers and directors misrepresented and/or
failed to disclose that: (i) the Company was fixing, maintaining,
and controlling prices of digoxin in violation of Connecticut's antitrust laws; (ii) the Company
conspired to allocate customers and territories with its
competitors in violation of antitrust laws; and (iii) the Company
has become the target of an investigation by the Connecticut Office
of the Attorney General.
If you own Lannett's shares and wish to discuss this matter with
us, or have any questions concerning your rights and interests with
regard to this matter, please contact:
Robert I. Harwood, Esq.
Matthew M. Houston, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: mhouston@hfesq.com
Website: http://www.hfesq.com
Harwood Feffer has been
representing individual and institutional investors for many years,
serving as lead counsel in numerous cases in federal and state
courts. Please visit the Harwood Feffer LLP website
(http://www.hfesq.com) for more information about the firm.
The law firm responsible for this advertisement is Harwood
Feffer LLP (www.hfesq.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
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SOURCE Harwood Feffer LLP