SAN FRANCISCO, Oct. 22, 2014 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a top-tier investor-rights law firm, alerts investors that a securities fraud class action has been filed against Retrophin, Inc. (Nasdaq:RTRX) ("Retrophin" or "the Company") for violations of the Securities Exchange Act of 1934. The lead plaintiff deadline in this case is December 19, 2014.
Investors who purchased Retrophin securities between March 27, 2014 and September 30, 2014, inclusive (the "Class Period") should contact Hagens Berman Partner Reed Kathrein, who is leading the firm's investigation, by calling (510) 725-3000, emailing RTRX@hbsslaw.com or visiting http://hb-securities.com/investigations/RTRX.
The complaint was filed in the Southern District of New York, and docketed as 1:14-cv-08376. It brings claims against the Company, its officers and directors, alleging that the Company made false and misleading statements and failed to disclose that Retrophin's founder and CEO was trading stocks in violation of the established Incentive Compensation Plan and securities rules including NASDAQ Listing Rules. The CEO was fired as a result. The Company also announced that its CFO will be terminated in early 2015. As a result of the changes to the executive team, shares of Retrophin plummeted from a share price of $12.49 on September 16 to close at $8.62 on October 1, 2014.
"Contrary to their beliefs, Retrophin's executives must play by the rules," said Mr. Kathrein. "They attempted to profit at the expense of their shareholders, and must be held accountable."
If you suffered a loss from your investment in Retrophin securities purchased on or after March 27, 2014 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. But investors interested in moving to be a lead plaintiff must do so no later than December 19, 2014.
Whistleblowers: Persons with non-public information regarding Marrone should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. For more information, call Reed Kathrein at (510) 725-3000 or email RTRX@hbsslaw.com.
Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm with offices in nine cities. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. Read the firm's Securities Newsletter at http://www.hb-securities.com/newsletter. The firm's blog is located at www.meaningfuldisclosure.com.
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