NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Amneal Pharmaceuticals, Inc. (NYSE: AMRX).
For many years, the Company, (formerly Impax Laboratories Inc.), which develops, manufactures, and markets bioequivalent, generic, pharmaceutical products, has been embroiled in investigations and litigation by state and federal authorities and relating to claims that it colluded with other competitor companies in a price-fixing scheme resulting in exponential price increases of certain products.
The Company has been sued in a securities class action lawsuit for failing to disclose material information to shareholders, violating federal securities laws, which is ongoing. The Company was also among those sued in a wide-ranging lawsuit brought by 44 state attorneys general alleging an illegal conspiracy to inflate prices of more than 100 generic drugs, sometimes by more than 1,000%, and stifle competition.
Recently, on July 10, 2019, the Company disclosed a cut to its 2019 core earnings forecast, citing supply problems as well as delays in regulatory approvals and launches as reasons for the lowered forecast.
KSF’s investigation is focusing on whether Amneal’s officers and/or directors breached their fiduciary duties to Amneal’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Amneal shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (email@example.com), or visit https://www.ksfcounsel.com/cases/nyse-amrx/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.