NEW YORK, Nov. 4, 2014 (GLOBE NEWSWIRE) -- Attorney Advertising. Stull, Stull & Brody, a New York based law firm with offices in Beverly Hills that specializes in representing investors nationwide, announces that a federal lawsuit has been filed and that it has commenced an investigation into possible breaches of fiduciary duty by the directors and officers of Retrophin, Inc. (Nasdaq:RTRX) ("Retrophin" or the "Company").
On September 16, 2014, the Company announced that it on the prior day it had negotiated an agreement to terminate the employment of Marc Panoff, its Chief Financial Officer and that Mr. Panoff's termination would be effective February 28, 2015. The Company also announced that Jeffrey Paley, MD had stepped down from its Board and that its Board had also terminated Martin Shkreli, its Chief Executive Officer, which termination was effective immediately. It appears that before his employment was terminated, Retrophin CEO and founder Martin Shkreli was granting shares to employees in violation of Retrophin's Incentive Compensations Plan without disclosure.
Stull, Stull & Brody is investigating, among other things, whether there were breaches of fiduciary duties in connection with (1) violations of the Company's policies by its executives; (2) wasting of corporate assets; (3) the adequacy of Retrophin's internal controls, and; (3) the accuracy of Retrophin's financial statements in light of possible violations of its Incentive Compensations Plan.
If you are a shareholder of Retrophin and have questions about your legal rights or interests with respect to these matters, please contact Michael Klein, Esq. at Stull, Stull & Brody by e-mail at RTRX@ssbny.com, by calling toll-free 1-800-337-4983, by fax to 1-212-490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.
You may retain Stull, Stull & Brody, or other counsel of your choice, to represent you. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in New York and Beverly Hills.
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