Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors

Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in LifeVantage Corporation of Class Action Lawsuit and Upcoming Deadline – LFVN

10/30/2016 | 07:01am EST

NEW YORK, Oct. 30, 2016 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against LifeVantage Corporation (“LifeVantage” or the “Company”) (NASDAQ:LFVN) and certain of its officers.  The class action, filed in United States District Court, District of Utah, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired LifeVantage securities between November 4, 2015 and September 13, 2016 both dates inclusive (the “Class Period”).  This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”). 

If you are a shareholder who purchased LifeVantage securities during the Class Period, you have until November 14, 2016 to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased. 

[Click here to join this class action]

LifeVantage identifies, researches, develops, and distributes nutraceutical dietary supplements and skin care products.  LifeVantage Corporation sells its products through a network of independent distributors and preferred customers in the United States, Japan, Hong Kong, Australia, Canada, the Philippines, Mexico, and Thailand.  The Company also sells its products online. 

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) LifeVantage lacked effective internal financial controls; (ii) as a result, the Company had improperly accounted for sales in certain international markets, along with associated revenue and income tax accruals; and (iii) as a result of the foregoing, LifeVantage’s public statements were materially false and misleading at all relevant times. 

On September 13, 2016, post-market, LifeVantage issued a press release and filed a Current Report on Form 8-K with the Securities and Exchange Commission, announcing a delay in the release of the Company’s fourth quarter and fiscal year 2016 financial results, citing an internal review “relate[d] to sales of the Company’s products in certain international markets and the determination of revenue and the deductibility of commission and incentive expenses associated with such sales, as well as the policies and procedures related to sales in those specific markets.”

On this news, LifeVantage stock fell $1.32, or 12.69%, to close at $9.08 on September 14, 2016.

The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

© GlobeNewswire 2016
Latest news "Companies"
05:59pNioCorp Reports Voting Results from the Election of Directors at its 2021 Annual General Meeting
AQ
05:58p"VIP Live Alerts Celebrates Community Friendships & Members Combined Profits"
PR
05:56pWM Technology, Inc. Files Form S-1 to Register Shares of Class A Common Stock Issued as Part of Q3 2021 Acquisitions
BU
05:56pADRs Close Higher; Alibaba Traded Actively
DJ
05:53pREV Group to Release Fourth Quarter 2021 Earnings on Wednesday, December 15, 2021
BU
05:52pU.S. appeals court will not block China Telecom revocation order
RE
05:52pVMWARE : Making Central Bank Digital Currencies a Reality
PU
05:52pSILVER MINES : Bundarra Zone Drilling Results - Increasing Grade and Width
PU
05:52pFOCUS MINERALS : Rights Issue Offer Booklet
PU
05:52pCORNERSTONE CAPITAL RESOURCES : 21-23 - Ecuador Constitutional Court Rules on exploration activities in the “Los Cedros” Protected Forest in the Rio Magdalena Project within the ENAMI EP Strategic Exploration Alliance in NW Ecuador
PU
Latest news "Companies"