Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of investors who purchased Lannett Company, Inc. (“Lannett Company” or the “Company”) (NYSE: LCI) securities between September 12, 2013 and November 3, 2016.
The complaint alleges that Lannett violated securities laws by virtue of its failure to disclose that Lannett’s drug pricing relied on unsustainable pricing methodologies and that Lannett lacked effective internal controls concerning its drug pricing methodologies.
On July 16, 2014, Lannett revealed it had received interrogatories and a subpoena from the State of Connecticut Office of the Attorney General. By December 8, 2014, both the Company’s Senior Vice President of Sales and Marketing and the Company were served grand jury subpoenas. On November 4, 2016, Bloomberg reported that the Justice Department is conducting an antitrust investigation of over a dozen companies, including Lannett, to determine whether they unlawfully colluded with each other to fix generic drug prices.
If you suffered a loss in Lannett you have until January 17, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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