IMPORTANT SHAREHOLDER ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against LifeVantage Corp. & Reminds ...
September 16 2016 - 6:44PM
Business Wire
Khang & Khang LLP (the “Firm”) announces a class action
lawsuit has been filed against LifeVantage Corporation
(“LifeVantage” or the “Company”) (Nasdaq: LFVN). Investors who
purchased or otherwise acquired shares between November 4, 2015 and
September 13, 2016 inclusive (the “Class Period”), are encouraged
to contact the Firm prior to the November 14, 2016 lead
plaintiff motion deadline.
If you purchased shares of LifeVantage during the Class Period,
please contact Joon M. Khang, Esquire, of Khang & Khang, 18101
Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949)
419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case. Until
certification occurs, you are not represented by an attorney. You
may choose to take no action and remain a passive class member.
The complaint alleges that during the Class Period, LifeVantage
made false and/or misleading statements and/or failed to disclose:
that the Company lacked effective internal financial controls; that
the Company improperly accounted for sales in certain international
markets, along with associated revenue and income tax accruals; and
that as a result of the above, LifeVantage’s public statements were
materially false and misleading at all relevant times. On
September 13, 2016, the Company announced that it would delay the
release of its fourth quarter and fiscal year 2016 financial
results. The reason for the delay was LifeVantage to carry out an
internal review of sales into certain international markets and the
revenue and income tax associated with those sales. The Company
stated that it is unable to estimate the impact of the review to
net revenue, tax expense, net income or other aspects of its
financial statements for the fiscal year ended June 30, 2016 or any
potential prior periods. When this news was announced, shares of
LifeVantage decreased in value, causing investors harm.
If you wish to learn more about this lawsuit, or if
you have questions concerning this notice or your rights, please
contact Joon M. Khang, a prominent litigator for almost two
decades, by telephone: (949) 419-3834, or by e-mail at
joon@khanglaw.com.
This press release may constitute Attorney Advertising in some
jurisdictions.
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version on businesswire.com: http://www.businesswire.com/news/home/20160916005871/en/
Khang & Khang LLPJoon M. Khang, Esq.Telephone:
949-419-3834Facsimile: 949-225-4474joon@khanglaw.com
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