WILMINGTON, Del., June 30, 2014 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announces that a lawsuit has been commenced by Guggenheim Securities LLC ("Guggenheim") against Retrophin, Inc. ("Retrophin" or the "Company") (Nasdaq:RTRX) for breach of contract. A copy of the complaint can be found here.
On May 15, 2014, Retrophin filed its quarterly 10-Q Report (the "10-Q Report") with the U.S. Securities & Exchange Commission (the "SEC"). The 10-Q Report stated that no material pending litigation existed. However, a lawsuit by Guggenheim has been filed against Retrophin which appears to have been pending on March 31, 2014 (the balance sheet date) and May 15, 2014 (the date of filing of the 10-Q). The complaint demands payment of $746,739, which is an amount greater than 10% of Retrophin's current assets as of March 31, 2014. Since May 15, 2014, Retrophin's share price has declined 6.17% based on the Company's June 27, 2014 closing price.
If you own shares of Retrophin and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/retrophin or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.