The Shareholders Foundation announces that an investigation for investors in NASDAQ:RTRX shares was initiated concerning over potential breaches of fiduciary duties by certain Retrophin officers and directors.
Investors who purchased shares of Retrophin Inc (NASDAQ:RTRX) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Retrophin officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On September 16, 2014, after the close of trading, Retrophin Inc announced that on September 15, 2014, it had reached an agreement with its Chief Financial Officer, Marc Panoff, pursuant to which Mr. Panoff’s employment with the Company will terminate, effective as of February 28, 2015. Also, Retrophin Inc announced that on September 10, 2014, Jeffrey Paley, MD stepped down as a member of the Board of Directors. Shares of Retrophin Inc declined to as low as $7.85 per share on October 1, 2014.
On October 20, 2104, a lawsuit was filed against Retrophin Inc over alleged violations of Federal Securities Laws. The plaintiff claims that between March 27, 2014 and September 30, 2014 Defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Retrophin Inc’s founder and Chief Executive Officer was committing stock-trading irregularities and other violations of the Company’s Incentive Compensation Plan and other securities rules, that said irregularities included grants of shares in violation of the Company’s Incentive Compensation Plan and the failure to disclose stock grants to employees, and that as a result of the above, the Company’s financial statements were materially false and misleading at all relevant times.
Shares of Retrophin Inc (NASDAQ:RTRX) declined to as low as $8.09 per share in November 2014.
On March 10, 2015, NASDAQ:RTRX shares closed at $15.19 per share.
Those who purchased shares of Retrophin Inc (NASDAQ:RTRX), have certain options and should contact the Shareholders Foundation.
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