NEW YORK--(BUSINESS WIRE)--Pomerantz LLP is investigating claims on behalf of investors of GNC Holdings, Inc. (“GNC” or the “Company”) (NYSE:GNC). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether GNC and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On February 3, 2015 an article published in the Wall Street Journal reported that, “New York Attorney General Eric Schneiderman has ordered GNC Holdings Inc., Target Corp. , Wal-Mart Co. , and Walgreens Inc. to stop selling store-brand herbal supplements after tests showed these supplements don’t usually contain the ingredient advertised.”
On this news, shares of GNC fell $1.76 per share to $42.12, or more than 4.00%, in intraday trading on February 3, 2015.
On March 10, 2015, the New York Attorney General Eric Schneiderman announced of the formation of a coalition of state attorneys general from Connecticut, Indiana and Puerto Rico to investigate the business practices of the herbal supplement industry.
On this news, shares of GNC fell $4.40 per share to $44.61, or more than 8.97%, in intraday trading on March 10, 2015.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.