NEW YORK, Nov. 21, 2014 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Retrophin, Inc.("Retrophin" or the "Company") (Nasdaq:RTRX) of the December 19, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Retrophin and certain executives.
A complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased Retrophin securities between March 27, 2014 and September 30, 2014, inclusive (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, Retrophin made false and/or misleading statements and/or failed to disclose that Retrophin's founder and Chief Executive Officer had made irregular stock trades and committed other violations of the Company's Incentive Compensation Plan (the "Plan") and other securities rules, including granting shares in violation of the Plan and the failure to disclose stock grants to employees.
On September 30, 2014, Retrophin issued a press release announcing that its Board of Directors terminated its Chief Executive Officer.
Following this news, the price of Retrophin stock declined by $0.40 per share, or over 4%, to close on October 1, 2014 at $8.62 per share.
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Take Action
If you invested in Retrophin common stock, bonds or options between March 27, 2014 and September 30, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/RTRX. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Retrophin's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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