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Harwood Feffer Announces Investigation of Lannett Company [Global Data Point](Global Data Point Via Acquire Media NewsEdge) Between 2013 and 2014, certain of the Company's officers and directors made statements about the Company's business concerning the sale of digoxin, a drug used for treatment of heart failure. However, on July 15, 2014, Lannett received a letter of inquiry from the Connecticut Attorney General concerning its investigation into the pricing and marketing of digoxin. Following the issuance of this announcement, on July 16, 2014, the value of Lannett's common stock declined more than 27 percent. A securities class action filed in the United States District Court for the Eastern District of Pennsylvania alleges that certain officers and directors at Lannett issued a series of false and misleading statements to investors regarding the company's business. Specifically, these officers and directors misrepresented and/or failed to disclose that: (i) the Company was fixing, maintaining, and controlling prices of digoxin in violation of Connecticut's antitrust laws; (ii) the Company conspired to allocate customers and territories with its competitors in violation of antitrust laws; and (iii) the Company has become the target of an investigation by the Connecticut Office of the Attorney General. (c) 2014 GlobalData Provided by SyndiGate Media Inc. (Syndigate.info). [ Back To TMCnet.com's Homepage ] |