SAN DIEGO, CA / ACCESSWIRE / December 12, 2016 / The Shareholders Foundation, Inc. announces that a lawsuit was for certain purchasers of (DPLO) shares against Diplomat Pharmacy over alleged Securities Laws Violations.
On November 2, 2016, Diplomat Pharmacy Inc reported third quarter 2016 results. Diplomat Pharmacy Inc also lowered full year 2016 guidance, with the CEO and Chairman commenting, "We are disappointed with our third quarter results, which were significantly impacted by the softness in the hepatitis C business nationwide, as well as by DIR fees. The methodology and transparency around how PBMs are applying these DIR fees changed materially in 2016, and while we cannot reverse the impact they had on this quarter, we are working with our partners in the specialty pharmacy industry and with legislators to achieve an amicable solution to this problem."
The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that Diplomat Pharmacy Inc lacked adequate internal controls over its financial reporting, that as a result Diplomat Pharmacy Inc could not adequately calculate DIR fees, that the Company's hepatitis C segment was not performing as previously disclosed to investors, that and therefore, Diplomat Pharmacy Inc had overstated its full-year 2016 guidance, and that that, as a result of the foregoing, defendants' statements about Diplomat Pharmacy Inc's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Those who purchased Diplomat Pharmacy Inc (DPLO) shares should contact the Shareholders Foundation, Inc.
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.
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SOURCE: Shareholders Foundation, Inc.