SAN DIEGO, March 07, 2019 (GLOBE NEWSWIRE) -- Nationally recognized securities attorney Andrew J. Brown, founder of The Law Offices of Andrew J. Brown, announces an investigation into legal claims against the officers and Board of Directors of Diplomat Pharmacy, Inc. (NYSE:DPLO).
More information can be found at www.thebrownlawfirm.com.
On February 24, 2019, a class action lawsuit was filed in the United States District Court Central District of California on behalf of all persons or entities who purchased or otherwise acquired Diplomat Pharmacy, Inc. securities between February 26, 2018 and February 21, 2019 (the “Class Period”).
The lawsuit alleges that Diplomat executives issued false and/or misleading statements and failed to disclose that (1) Diplomat had downplayed its success in integrating and growing its PBM business, which included two companies acquired in late 2017, LDI Integrated and National Pharmaceutical; (2) consequently, Diplomat would need to record a non-cash impairment charge upwards of approximately $630 million relating to its PBM business and these 2017 acquisitions; (3) due to the foregoing, Diplomat would withdraw its preliminary 2019 full-year outlook issued less than seven weeks prior; and (4) as a result, defendants’ statements about Diplomat’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis during the Class Period.
These alleged false and misleading statements made by the defendants’ caused investors to suffer as shares fell more than 50%.
Based upon the allegations in the filed class action complaint, the Law Offices of Andrew J. Brown is investigating legal claims involving violations of federal securities laws by the Company’s Officers and Directors. The Law Offices of Andrew J. Brown is an investor and consumer-dedicated litigation firm with more than 20 years of experience in complex consumer and securities class action litigation. www.thebrownlawfirm.com
If you are a Diplomat Pharmacy, Inc. shareholder and want to learn more about the investigation and pending lawsuits, contact Andrew J. Brown at info@thebrownlawfirm.com. There is no cost or fee to you. If you wish to be appointed lead plaintiff of the proposed class you must make the request no later than April 25, 2019.
Andrew J. Brown
Law Offices of Andrew J. Brown
501 W. Broadway, Ste. 1490
San Diego, CA 92101
(619) 501-6550
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