The Shareholders Foundation announces that an investigation on behalf of investors of Retrophin Inc (NASDAQ:RTRX) shares was launched over potential securities laws violations by Retrophin Inc and certain of its directors and officers in connection certain financial statements.
Investors who purchased shares of Retrophin Inc (NASDAQ:RTRX) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Retrophin Inc (NASDAQ:RTRX) concerning whether a series of statements by Retrophin Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Retrophin Inc reported that its Net Loss increased from $0.01 million for the 12 months period that ended on Feb. 29, 2012 to $33.82 million for the 12 months period that ended on Dec. 31, 2013. Shares of Retrophin Inc (NASDAQ:RTRX) grew from $4.90 per share in July 2013 to as high as $23.36 per share in April 2014.
On May 15, 2014, Retrophin Inc disclosed in a filing with the SEC that as of May 15, 2014 an additional 1,220,000 shares of Retrophin common stock have been issued in the past two months.
Acorrding to the investigation there appears to be no explanation for this additional stock issuance and that the issuance of these additional shares has had a significant and severe dilutive effect on the shares of Retrophin common stock.
Shares of Retrophin Inc declined from over $21 per share in April 2014 to as low as $10.36 per share on June 6, 2014.
On June 30, 2014, NASDAQ:RTRX shares closed at $11.74 per share.
Those who purchased shares of Retrophin Inc (NASDAQ:RTRX), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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