SHAREHOLDER ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Ligand Pharmaceuticals Incorporated & ...
November 23 2016 - 11:19AM
Business Wire
Khang & Khang LLP (the “Firm”) announces the filing of a
class action lawsuit against Ligand Pharmaceuticals Incorporated
(“Ligand” or the “Company”) (Nasdaq: LGND). Investors, who
purchased or otherwise acquired shares between November 9, 2015 and
November 14, 2016 inclusive (the “Class Period”), are encouraged to
contact the Firm in advance of the January 17, 2017 lead
plaintiff motion deadline.
If you purchased shares of Ligand 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 yet. 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 Ligand made false and/or misleading
statements and/or failed to disclose: that Ligand overstated the
value of certain Deferred Tax Assets by about $27.5 million or 13%;
that the Company’s outstanding convertible senior unsecured notes
due 2019 should have been classified as short-term debt rather than
long-term debt as of December 31, 2015; that Ligand did not
maintain effective controls over the accuracy and presentation of
the accounting for income taxes related to complex transactions;
that the Company lacked effective internal control over financial
reporting; and that as a result of the above, Ligand’s statements
about its business, operations and prospects were materially false
and misleading and/or lacked a reasonable basis at all relevant
times. When this information was disclosed, shares of Ligand
declined in value, causing investors harm.
If you wish to learn more about this lawsuit at no
charge to you, 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/20161123005502/en/
Khang & Khang LLPJoon M. Khang, Esq.Telephone:
949-419-3834Facsimile: 949-225-4474joon@khanglaw.com
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