Robbins Umeda LLP Announces Investigation of NBTY, Inc.
May 27 2010 - 7:26PM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of the law by
certain officers and directors at NBTY, Inc. ("NBTY" or the
"Company") (NYSE:NTY). NBTY manufactures, markets, and retails
nutritional supplements in the United States and worldwide. The
Company was founded in 1971 and is based in Ronkonkoma, New
York.
Robbins Umeda LLP's investigation concerns whether the Company's
directors and officers caused the Company to make materially false
and misleading representations regarding NBTY's business and
prospects.
Beginning in November 2009, defendants issued a series of
statements concerning the Company's future revenues and the
likelihood that it would meet its earnings guidance. These
statements allegedly concealed certain material facts from
investors in order to inflate the Company's stock price. Upon
revelation of these previously undisclosed facts, NBTY's market
capitalization declined by over $610 million, or 20.6 percent, in a
single day.
If you purchased your shares of NBTY stock prior to November 9,
2009, continue to hold your shares, and would like more information
about your rights as a shareholder, please contact attorney Gregory
E. Del Gaizo at 800-350-6003 or by e-mail at
inquiry@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm, which has
significant experience representing investors in shareholder
derivative actions, securities fraud class actions, and
merger-related shareholder class actions. For more information
about the firm, please go to http://www.robbinsumeda.com.
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