The Shareholders Foundation announces that an investigation for investors, who currently hold shares of in shares of BioScrip Inc (NASDAQ:BIOS) long-term, shares was launched concerning potential wrongdoing by certain directors of BioScrip Inc that caused damages to NASDAQ:BIOS stockholders.
Investors who purchased shares of BioScrip Inc (NASDAQ:BIOS) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain BioScrip directors breached their fiduciary duties that caused damages to NASDAQ:BIOS shareholders.
On September 23, 2013, BioScrip Inc disclosed that the Company received a civil investigative demand issued by the United States Attorney’s Office for the Southern District of New York and a subpoena from the New York State Attorney General’s Medicaid Fraud Control Unit, regarding the distribution of the Novartis Pharmaceuticals Corporation product Exjade(R) by the Company’s legacy specialty pharmacy division.
On September 30, 2013, a lawsuit was filed against BioScrip over alleged Securities Laws Violations. The plaintiff alleges that the Defendants made false and/or misleading statements and/or failed to disclose that BioScrip Inc improperly distributed the product Exjade through its specialty pharmacy operations, that BioScrip Inc was in violation of certain federal and state laws and regulations, and that as a result of the foregoing BioScrip’s statements were materially false and misleading at all relevant times.
On January 8, 2014 U.S. Department of Justice disclosed that BioScrip agreed to forfeit $15 million for the Company’s alleged participation in an alleged kickback scheme with Novartis Pharmaceuticals Corporation related to Novartis’s product Exjade.
On March 31, 2015, a federal judge denied, in part, a motion to dismiss the lawsuit was filed on September 30, 2013 against BioScrip over alleged Securities Laws Violations.
Those who purchased shares of BioScrip Inc (NASDAQ:BIOS) 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