The Shareholders Foundation announces that a deadline is coming up on December 19, 2014 in the lawsuit filed for investors of Retrophin Inc (NASDAQ:RTRX) over alleged violations of Federal Securities Laws by Retrophin Inc
Investors with a substantial investment in Retrophin Inc (NASDAQ:RTRX shares between March 27, 2014 and September 30, 201, should get active before the Deadline that is coming up on December 19, 2014, and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of Retrophin Inc (NASDAQ:RTRX) common shares between March 27, 2014 and September 30, 2014 that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between March 27, 2014 and September 30, 2014 Defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Retrophin Inc’s founder and Chief Executive Officer was committing stock-trading irregularities and other violations of the Company’s Incentive Compensation Plan and other securities rules, that said irregularities included grants of shares in violation of the Company’s Incentive Compensation Plan and the failure to disclose stock grants to employees, and that as a result of the above, the Company’s financial statements were materially false and misleading at all relevant times.
On September 16, 2014, after the close of trading, Retrophin Inc announced that on September 15, 2014, it had reached an agreement with its Chief Financial Officer, Marc Panoff, pursuant to which Mr. Panoff’s employment with the Company will terminate, effective as of February 28, 2015. Also, Retrophin Inc announced that on September 10, 2014, Jeffrey Paley, MD stepped down as a member of the Board of Directors. Shares of Retrophin Inc declined to as low as $7.85 per share on October 1, 2014.
On December 9, 2014, NASDAQ:RTRX shares closed at $9.81 per share.
Those who purchased shares of Retrophin Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com