BOSTON, Oct. 31, 2016 /PRNewswire/ -- Block & Leviton
LLP reminds investors in LifeVantage Corporation (NASDAQ: LFVN)
that the deadline for seeking lead plaintiff status in the pending
securities class action against the Company and certain of its
officers and directors is November 14,
2016.
Investors who purchased or otherwise acquired LifeVantage
securities in the Class Period of this litigation, November 5, 2015 through September 13, 2016, are eligible for inclusion in
the class action and are encouraged to contact Block &
Leviton.
Shares in LifeVantage have fallen nearly 30% since September 13, 2016, when the Company announced
that it was delaying the release of its fourth quarter and full
fiscal year 2016 financial results and had launched an internal
investigation, which "relates to sales of the Company's products in
certain international markets and the determination of revenue and
the deductibility of commission and incentive expenses associated
with such sales, as well as the policies and procedures related to
sales in those specific markets."
The class action lawsuit pending in U.S. District Court for the
District of Utah alleges that (i)
LifeVantage lacked effective internal financial controls; (ii) as a
result, the Company had improperly accounted for sales in certain
international markets, along with associated revenue and income tax
accruals; and (iii) as a result, LifeVantage's public statements
were materially false and misleading.
Block & Leviton encourages class members to contact the firm
for additional information as to how the lawsuit will affect them.
If you wish to serve as a lead plaintiff, you must move the Court
no later than November 14,
2016. As a member of the class, you may seek to file a motion
to serve as a lead plaintiff or take no action and remain an absent
class member. To learn more about your options or if you have
any questions about the litigation, please contact attorneys
Steven Harte or Bradley Vettraino at (617) 398-5600, by email at
steven@blockesq.com or bradley@blockesq.com, or visit
www.blockesq.com/lifevantage.
Confidentiality to whistleblowers or others with relevant
information is assured.
Block & Leviton LLP is a Boston-based law firm representing investors
nationwide. The firm's lawyers have collectively been prosecuting
securities cases on behalf of individual and institutional
investors for over 50 years, and have recovered billions of dollars
on their behalf. Block & Leviton's investigations into
corporate wrongdoing were recently covered by the New York Times.
This notice may constitute attorney advertising.
CONTACT:
Block & Leviton LLP
Steven P. Harte
Bradley J. Vettraino
155 Federal Street, Suite 400
Boston, MA 02110
(617) 398-5600
steven@blockesq.com
bradley@blockesq.com
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SOURCE Block & Leviton LLP