NEW YORK--(BUSINESS WIRE)--Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, is investigating whether certain directors and officers of Lannett Company, Inc. (“Lannett” or the “Company”) (NYSE:LCI) breached their fiduciary duties to the Company and its shareholders. If you are a Lannett shareholder, you are encouraged to contact Scott+Scott for additional information.
Lannett develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. On July 16, 2014, Lannett disclosed that it had received interrogatories and a subpoena from the State of Connecticut Office of the Attorney General concerning its investigation into the pricing of Digoxin, one of Lannett’s generic drugs. By November 3, 2016, media outlets reported that Department of Justice (“DOJ”) prosecutors were considering filing criminal charges against Lannett and several other generic pharmaceutical companies by the end of 2016 for unlawfully colluding to fix generic drug prices.
On January 5, 2017, the Antitrust Division’s Washington Criminal I Section submitted an Uncontested Motion of the United States to Intervene in an antitrust action captioned In re Generic Digoxin and Doxycycline Antitrust Litigation, in which Lannett, among others, is named as a defendant. In its motion, the DOJ asserted that “this litigation shares common questions of law and fact with an ongoing federal criminal investigation. Continued litigation of this consolidated action is likely to result in the disclosure of information that will harm the ongoing criminal antitrust investigation.” On January 6, 2017, the DOJ’s uncontested motion to intervene was granted.
What You Can Do
If you are a Lannett shareholder, you may have legal claims against Lannett’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at firstname.lastname@example.org.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.