NEW YORK, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire is investigating certain officers and directors of Lannett Company, Inc. (NYSE: LCI), Molson Coors Brewing Company (NYSE: TAP), AxoGen, Inc. (NASDAQ: AXGN), and American Renal Associates Holdings, Inc. (NYSE: ARA) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
Lannett Company, Inc. (NYSE: LCI)
Bragar Eagel and Squire is investigating certain officers and directors of Lannett Company, Inc. following a class action complaint that was filed against Lannett on November 16, 2016.
According to the complaint, throughout the class period defendants made false and/or misleading statements and/or failed to disclose that: (1) Lannett's drug pricing relied on unsustainable pricing methodologies; (2) Lannett lacked effective internal controls concerning its drug pricing methodologies; (3) as a result, Lannett’s public statements were materially false and misleading at all relevant times and spurred ongoing investigations by the State of Connecticut Office of the Attorney General and the U.S. Department of Justice. Additionally, media outlets reported that the underlying conduct would likely lead U.S. prosecutors to file criminal charges against Lannett by the end of 2016 for suspected price collusion.
For more information on our investigation into Lannett, go to: https://bespc.com/lci-2
Molson Coors Brewing Company (NYSE: TAP)
Bragar Eagel and Squire is investigating certain officers and directors of Molson Coors Brewing Company following a class action complaint that was filed against Molson Coors on February 15, 2019.
The Complaint alleges that throughout the class period defendants repeatedly and materially misstated Molson's financial condition in filings with the U.S. Security and Exchange Commission (“SEC”), while falsely representing that Molson's financial statements complied with Generally Accepted Accounting Principles (“GAAP”) and that its internal controls were effective.
For more information on our investigation into Molson Coors go to: https://bespc.com/Molson
AxoGen, Inc. (NASDAQ: AXGN)
Bragar Eagel and Squire is investigating certain officers and directors of AxoGen, Inc. following a class action complaint that was filed against AxoGen on January 9, 2019.
The complaint alleges that throughout the class period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, defendants failed to disclose: (1) that the Company aggressively increased prices to mask lower sales; (2) that the Company's pricing alienated customers and threatened the Company's future growth; (3) that ambulatory surgery centers form a significant part of the market for the company's products; (4) that such centers were especially sensitive to price increases; (5) that the company was dependent on a small number of surgeons whom the company paid to generate sales; (6) that the company's consignment model for inventory was reasonably likely to lead to channel stuffing; (7) that the company offered purchase incentives to sales representatives to encourage channel stuffing; (8) that the company's sales representatives were encouraged to backdate revenue to artificially inflate metrics; (9) that the company lacked adequate internal controls to prevent such channel stuffing and backdating of revenue; (10) that the company's key operating metrics, such as number of active accounts, were overstated; and (11) that, as a result of the foregoing, defendants' positive statements about the company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
For more information on our investigation into AxoGen, go to: https://bespc.com/axgn-2
American Renal Associates Holdings, Inc. (NYSE: ARA)
Bragar Eagel and Squire is investigating certain officers and directors of American Renal Associates, Inc. following a class action complaint that was filed against American Renal Associates on March 28, 2019.
The complaint alleges that throughout the class period defendants made false and/or misleading statements and/or failed to disclose that: (1) issues with American Renal's accounting process for revenue recognition, collections, and related matters would give rise to a U.S. Securities and Exchange Commission ("SEC") investigation into the same, and increased regulatory scrutiny by the SEC; (2) American Renal's financial statements for fiscal years 2014, 2015, 2016 and 2017 contained in its Annual Reports for the years ended December 31, 2016 and 2017, and its condensed consolidated financial statements in quarterly reports from 2016 through 2018 were false and could not be relied upon; (3) American Renal had material weaknesses in its internal control over financial reporting; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on our investigation into American Renal Associates go to: https://bespc.com/americanrenal
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com