Lannett Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors

DALLAS--()--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against Lannett Company, Inc. (“Lannett” or “Company”) (NYSE: LCI) and several officers and directors for acts taken during the period of September 10, 2013 to July 16, 2014 (the “Class Period”).

Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Lannett. If you are an affected Lannett shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via e-mail at shareholder@powerstaylor.com. There is no cost or fee to you.

In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants misrepresented and/or failed to disclose that: 1) the Company was fixing, maintaining, and controlling prices of digoxin in violation of Connecticut antitrust laws; 2) the Company was allocating and dividing customers and territories with competitors relating to the sale of digoxin in violation of Connecticut antitrust laws; 3) the Company’s anticompetitive practices subjected Lannett to heightened regulatory scrutiny, including possible investigation by the Connecticut Office of the Attorney General (“CTAG”); and 4) due to the above, Lannett’s public statements were materially false and misleading at all relevant times.

The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Contacts

The Briscoe Law Firm, PLLC
Willie Briscoe, 214-239-4568
WBriscoe@TheBriscoeLawFirm.com
or
Powers Taylor LLP
Patrick Powers, 877-728-9607
shareholder@powerstaylor.com

Release Summary

Lannett Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors

Contacts

The Briscoe Law Firm, PLLC
Willie Briscoe, 214-239-4568
WBriscoe@TheBriscoeLawFirm.com
or
Powers Taylor LLP
Patrick Powers, 877-728-9607
shareholder@powerstaylor.com