Robbins Arroyo LLP: Lannett Company (LCI) Misled Shareholders According to a Shareholder Complaint

SAN DIEGO & PHILADELPHIA–(BUSINESS WIRE)–$LCI #ClassAction–Shareholder rights law firm Robbins
Arroyo LLP
announces that purchasers of Lannett Company (NYSE: LCI)
have filed a shareholder complaint against the company’s officers and
directors for breaches of fiduciary duty from 2013 to the present for
their role in allegedly causing Lannett to engage in a price-fixing
scheme to attain its revenue goals and artificially inflate its common
stock. Lannett develops, manufactures, packages, markets, and
distributes generic versions of brand pharmaceutical products in the
United States.

View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/lannett-company-nov-2018/

Lannett Accused of Price-Fixing and Misleading Investors

According to the complaint, since 2013, Lannett’s business strategy has
been based on the company’s ability to increase prices on its generic
drugs by collusively entering into industry-wide anti-competitive
agreements with other generic drug manufacturers. Extensive regulatory
investigations have revealed that Lannett was involved in an
industry-wide conspiracy to fix prices and allocate territories for the
sale of at least 18 different generic medications. Capitalizing on
Lannett’s artificially inflated stock prices, certain defendants made
nearly $10 million in insider sales. As a result of its price-fixing,
Lannett is now defending itself against regulatory inquiries and
investigations and private lawsuits alleging securities fraud, consumer
deception, and violations of state and federal antitrust laws.

Lannett Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form
on the firm’s website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
portfolio monitoring service, Stock
Watch
.

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Contacts

Robbins Arroyo LLP
Leonid Kandinov
LKandinov@robbinsarroyo.com
(619)
525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com

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