Deadline in Lawsuit for Investors in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) announced by Shareholders Foundation...
January 11 2017 - 1:20PM
The Shareholders Foundation, Inc. announces that a deadline is
coming up on January 17, 2017 in the lawsuit that was filed for
certain investors in NASDAQ: LGND shares over alleged Securities
Laws Violations by Ligand Pharmaceuticals Inc.
The lawsuit seeks to recover damages for certain NASDAQ:LGND
investors.
Investors who purchased shares of Ligand Pharmaceuticals Inc.
(NASDAQ:LGND) have certain options and for certain investors there
are short and strict deadlines running. Deadline: January 17, 2017.
NASDAQ: LGND investors should contact the Shareholders Foundation
at mail@shareholdersfoundation.com or call +1(858) 779 -
1554.
On November 9, 2016, Ligand Pharmaceuticals Inc. announced that
it would not be able to timely file its Quarterly Report on Form
10-Q for the quarter ended September 30, 2016 and that it was
reviewing a potential restatement.
On November 14, 2016, Ligand Pharmaceuticals Inc. announced that
it would restate financial statements for the quarters ended
September 30, 2015; December 31, 2015; March 31, 2016; and June 30,
2016, due to a material error. Ligand Pharmaceuticals Inc. also
disclosed that its management determined that the Company did not
maintain effective controls over the accuracy and presentation of
accounting for income taxes related to complex
transactions.
On November 17, 2016, a lawsuit was filed against Ligand
Pharmaceuticals Inc (NASDAQ:LGND) in the U.S. District Court for
the Southern District of California. The plaintiff alleges that the
Defendants made false and/or misleading statements and/or failed to
disclose that Ligand Pharmaceuticals Inc. overstated the value of
certain Deferred Tax Assets by approximately $27.5 million or 13%,
that Ligand Pharmaceuticals Inc.’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 Pharmaceuticals Inc. did not maintain effective controls
over the accuracy and presentation of the accounting for income
taxes related to complex transactions, that in turn, Ligand
Pharmaceuticals Inc. lacked effective internal control over
financial reporting, and that as a result, defendants’ statements
about Ligand’s business, operations and prospects were materially
false and misleading and/or lacked a reasonable basis at all
relevant times.
Those who purchased Ligand Pharmaceuticals Inc. (NASDAQ:LGND)
shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio
legal monitoring and a settlement claim filing service, which does
research related to shareholder issues and informs investors of
securities class actions, settlements, judgments, and other legal
related news to the stock/financial market. The Shareholders
Foundation, Inc. is not a law firm. The information is provided as
a public service. It is not intended as legal advice and should not
be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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