INVESTOR ALERT: Brower Piven Encourages Shareholders Who Have Losses In Excess Of $100,000 From Investment In LifeVantage Cor...
September 27 2016 - 2:07PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the District
of Utah on behalf of purchasers of LifeVantage Corporation (Nasdaq:
LFVN) (“LifeVantage” or the “Company”) securities during the period
between November 4, 2015 and September 13, 2016, inclusive (the
“Class Period”). Investors who wish to become proactively involved
in the litigation have until November 14, 2016 to seek appointment
as lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in LifeVantage securities during the Class Period.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff. No class has yet been
certified in the above action.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that LifeVantage lacked
effective internal financial controls, and, as a result, the
Company had improperly accounted for sales in certain international
markets, along with associated revenue and income tax accruals.
According to the complaint, following a September 13, 2016 press
release and Form 8-K announcing a delay in the release of the
Company’s fourth quarter and fiscal year 2016 financial results due
to sales of the Company’s products in certain international markets
and the determination of revenue and the deductibility of
commission and incentive expenses associated with such sales, the
value of LifeVantage shares declined significantly.
If you have suffered a loss in excess of $100,000 from
investment in LifeVantage securities purchased on or after November
4, 2015 and held through the revelation of negative information
during and/or at the end of the Class Period and would like to
learn more about this lawsuit and your ability to participate as a
lead plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20160927006543/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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