Shareholder Investigation of Lannett Company
Lannett Company (LCI) Accused of Price-Fixing and Misleading Investors
According to the complaint against the company’s officers and directors for breaches of fiduciary duty from 2013 to the present, Lannett’s business strategy has been based on the company’s ability to increase prices on its generic drugs by collusively entering into industry-wide anti-competitive agreements with other generic drug manufacturers. Extensive regulatory investigations have revealed that Lannett was involved in an industry-wide conspiracy to fix prices and allocate territories for the sale of at least 18 different generic medications. Capitalizing on Lannett’s artificially inflated stock prices, certain defendants made nearly $10 million in insider sales. As a result of its price-fixing, Lannett is now defending itself against regulatory inquiries and investigations and private lawsuits alleging securities fraud, consumer deception, and violations of state and federal antitrust laws.
Lannett Company (LCI) Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can please send us a message via the Shareholder Information form below.