NEW YORK, Sept. 29, 2016 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, reminds
investors in LifeVantage Corporation ("LifeVantage" or the
"Company") (NASDAQ:LFVN) of the November 14,
2016 deadline to seek the role of lead plaintiff in a
federal securities class action lawsuit filed against the Company
and certain officers.
The lawsuit has been filed in the U.S. District Court for the
District of Utah on behalf of all
those who purchased LifeVantage securities between November 4, 2015 and September 13, 2016 (the "Class Period").
The case, Zhang v. Lifevantage et al, No. 2:16-cv-00965 was
filed on September 15, 2016, and has
been assigned to Judge Brooke C.
Wells.
The lawsuit focuses on whether the Company and its executives
violated federal securities laws by failing to disclose potential
deficiencies in the Company's internal control over financial
reporting.
Specifically, after markets closed on September 13, 2016, the Company announced that it
would not release its fourth quarter and fiscal year 2016 financial
results on time due to accounting issues on sales into certain
international markets and the revenue and income tax accruals
associated with such sales. The Company also stated that an
independent review by the Company's Audit Committee is currently
underway.
After the announcement, LifeVantage's share price fell from
$10.40 per share on September 13, 2016 to a closing price of
$9.08 on September 14, 2016—a $1.32 or a 12.69% drop.
Request more information now by clicking here:
www.faruqilaw.com/LFVN. There is no cost or obligation to
you.
Take Action
If you invested in LifeVantage stock or options between
November 4, 2015 and September 13, 2016 and would like to discuss your
legal rights, visit www.faruqilaw.com/LFVN. You can also contact us
by calling Richard Gonnello toll
free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to
rgonnello@faruqilaw.com Faruqi & Faruqi, LLP also encourages
anyone with information regarding LifeVantage's conduct to contact
the firm, including whistleblowers, former employees, shareholders
and others.
The court-appointed lead plaintiff is the investor with the
largest financial interest in the relief sought by the class that
is adequate and typical of class members who directs and oversees
the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any
recovery is not affected by the decision of whether or not to serve
as a lead plaintiff.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with
respect to any future matter. We welcome the opportunity to discuss
your particular case. All communications will be treated in a
confidential manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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