SAN DIEGO, Oct. 26, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Utah on behalf of certain purchasers of shares of LifeVantage Corp (NASDAQ:LFVN) over alleged Securities Laws Violations by LifeVantage. The lawsuit seeks to recover damages for certain NASDAQ:LFVN investors.
Investors who purchased shares of LifeVantage Corp (NASDAQ:LFVN) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that LifeVantage lacked effective internal financial controls, that as a result, the Company had improperly accounted for sales in certain international markets, along with associated revenue and income tax accruals, and that as a result of the foregoing, LifeVantage’s public statements were materially false and misleading at all relevant times.
On September 13, 2016, LifeVantage Corp announced a delay in the release of the Company’s fourth quarter and fiscal year 2016 financial results, citing an internal review “relate[d] to sales of the Company’s products in certain international markets and the determination of revenue and the deductibility of commission and incentive expenses associated with such sales, as well as the policies and procedures related to sales in those specific markets.”
Those who purchased LifeVantage Corp (NASDAQ:LFVN) 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.