SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Salix Pharmaceuticals, Ltd. - SLXP
NEW YORK, Nov. 6, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Salix Pharmaceuticals, Ltd. ("Salix Pharmaceuticals" or the "Company") (NASDAQ: SLXP). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Salix Pharmaceuticals and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On November 6, 2014, Salix Pharmaceuticals posted lower-than-expected quarterly results and announced the abrupt resignation of Adam Derbyshire as its chief financial officer. For the third quarter, the Company reported a loss of $88.6 million, or $1.39 per share, and earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, at $1.53 per share. The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.
On this news, shares of Salix Pharmaceuticals fell $50.33 per share, or more than 36.33%, to $88.22 per share in after-hours trading on November 6, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
SOURCE Pomerantz LLP
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