BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of Diplomat Pharmacy Inc. (“Diplomat” or the “Company”) (NYSE: DPLO) concerning the Company and its officers’ possible violations of federal securities laws.
Diplomat operates one of the largest independent specialty pharmacy networks in the United States.
On November 2, 2016, after the market close, the Company reported third quarter 2016 results that fell below investors’ expectations. The Company also lowered full year 2016 guidance, with the CEO and Chairman commenting, “we are disappointed with our third quarter results, which were significantly impacted by the softness in the hepatitis C business nationwide, as well as by DIR fees. The methodology and transparency around how PBMs are applying these DIR fees changed materially in 2016, and while we cannot reverse the impact they had on this quarter, we are working with our partners in the specialty pharmacy industry and with legislators to achieve an amicable solution to this problem.” The Company also announced certain management changes following the resignations of its President and Chief Financial Officer.
On this news, Diplomat stock fell $9.43 per share, or over 42%, to close at $12.95 per share on November 3, 2016.
If you purchased Diplomat securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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