INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Diplomat Pharmacy, I...
22 Marzo 2019 - 6:35PM
Business Wire
The law firm of Kirby McInerney LLP announces that a class
action lawsuit has been filed in the U.S. District Court for the
Central District of California on behalf of those who acquired
Diplomat Pharmacy, Inc. (“Diplomat” or the “Company”) (NYSE: DPLO)
securities during the period from February 26, 2018 through
February 21, 2019 (the “Class Period”). Investors have until April
25, 2019 to apply to the Court to be appointed as lead plaintiff in
the lawsuit.
The lawsuit alleges that Diplomat made materially false and
misleading statements and/or failed to disclose that: (i) Diplomat
had downplayed its success in integrating and growing its PBM
business, which included LDI Integrated and National
Pharmaceutical, two companies Diplomat had acquired in late 2017;
(ii) 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; and (iii) due to the
foregoing, Diplomat would withdraw its preliminary 2019 full-year
outlook issued less than seven weeks prior.
On February 22, 2019, Diplomat revealed that it would be
postponing its fourth quarter and full-year 2018 financial results
since it needed to record a non-cash impairment charge in
connection with its PBM business. Diplomat also renounced its
preliminary 2019 full-year outlook from January.
On this news, Diplomat’s share price fell $7.59 per share, more
than 56%, to close at $5.87 on February 22, 2019.
If you acquired Diplomat securities during the Class Period,
have information, or would like to learn more about these claims,
please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600,
by email at investigations@kmllp.com, or by filling out this
contact form, to discuss your rights or interests with respect to
these matters without any cost to you.
Kirby McInerney is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20190322005459/en/
Kirby McInerney LLPThomas W. Elrod, Esq., (212)
371-6600investigations@kmllp.comwww.kmllp.com
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