Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Retrophin, Inc.
NEW YORK, Sept. 17, 2014 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Retrophin, Inc. ("Retrophin" or the "Company") (NasdaqGM: RTRX -News). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at [email protected] or 212-697-6484.
The investigation focuses on whether the Company and certain of its executives violated federal securities laws.
On September 16, 2014, after the market closed, Retrophin announced in a regulatory filing that the Company notified The Nasdaq Stock Market LLC, "that the Company's Board of Directors (the "Board") was no longer comprised of a majority of independent directors as required by Nasdaq Listing Rule 5605(b)(1) and that the Audit Committee of the Board (the "Audit Committee") was no longer comprised of at least three independent directors as required by Nasdaq Listing Rule 5605(c)(2)(A). Following the Director Resignation (as defined below), only two of the Company's remaining four directors qualify as independent directors, and the Audit Committee is comprised of only two independent directors."
On September 15, 2014, The Nasdaq Stock Market LLC issued a letter to the Company indicating that the Company no longer complies with the independent director and audit committee requirements set forth in Nasdaq Listing Rule 5605.
On this news, shares of Retrophin fell $1.09 or 8.73% during intraday trading to trade at $11.40 on September 17, 2014.
If you are aware of any facts relating to this investigation, or purchased shares of Retrophin, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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