NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of Ligand Pharmaceuticals, Inc. (NASDAQ: LGND) (“Ligand”) concerning possible violations of federal securities laws by the Company and/or certain of its officers and directors.
On November 3, 2016, Ligand announced it was evaluating certain deferred tax assets recorded in the third quarter of 2015. On November 9, 2016, Ligand announced that the Company would be unable to timely file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2016 and was determining whether restatement would be necessary. Then on November 14, 2016, post-market, Ligand announced that the Company would restate financial statements for the quarters ended September 30, 2015, December 31, 2015, March 31, 2016, and June 30, 2016, due to a material error. According to Ligand, “the Company did not maintain effective controls over the accuracy and presentation of the accounting for income taxes relate[d] to complex transactions, including the income tax provision and related tax assets and liabilities and controls over the financial reporting classification of convertible debt and temporary equity.” To obtain additional information, go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
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