INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Diplomat Pharmacy, Inc. and Encourages Investors to Contact the Firm Before April 25
Investors have until April 25, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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 [email protected],
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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