SAN DIEGO, Dec. 08, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Oregon on behalf of certain purchasers of shares of GNC Holdings Inc (NYSE:GNC) over alleged Securities Laws Violations by GNC Holdings.
Investors who purchased shares of GNC Holdings Inc (NYSE:GNC) have certain options and for certain investors are short and strict deadlines running. Deadline: December 28, 2015. NYSE: GNC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that the defendants issued materially false and misleading statements to investors and/or failed to disclose that GNC Holdings unlawfully sold thousands of units of products in Oregon that contained picamilon, that GNC Holdings unlawfully sold thousands of units of products in Oregon that contained BMPEA, and that as a result of the foregoing, GNC Holdings’ public statements were materially false and misleading at all relevant times.
On October 22, 2015, the State of Oregon sued GNC Holdings Inc, claiming that the company's nutritional and dietary supplements are laced with unapproved drugs, including picamilon and BMPEA. According to the complaint GNC Holdings Inc violated the Oregon Unlawful Trade Practices ACT (“UTPA”) by misrepresenting some of its products as lawful dietary supplements. The complaint alleges that certain products that were misrepresented are unapproved drugs that may not be lawfully sold in the United States as a dietary supplement. In addition, the complaint alleged that GNC Holdings Inc sold products labeled containing botanical acacia rigidula that were added with unlabeled BMPEA and that GNC Holdings Inc allegedly sold thousands of units of products containing picamilon or BMPEA that were falsely labeled as a dietary supplement.
Those who purchased GNC Holdings Inc (NYSE:GNC) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.