EQUITY ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against LifeVantage Corporation and Encourages Investors with Losses to Contact the Firm
IRVINE, CA / ACCESSWIRE / September 30, 2016 / Khang & Khang LLP (the “Firm”) announces a class action lawsuit has been filed against LifeVantage Corporation (“LifeVantage” or the “Company”) (NASDAQ: LFVN). Investors who purchased or otherwise acquired shares between November 4, 2015 and September 13, 2016 inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the November 14, 2016 lead plaintiff motion deadline.
If you purchased shares of LifeVantage during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at firstname.lastname@example.org.
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The complaint alleges that during the Class Period, LifeVantage made false and/or misleading statements and/or failed to disclose: that the Company lacked effective internal financial controls; that the Company improperly accounted for sales in certain international markets, along with associated revenue and income tax accruals; and that as a result of the above, LifeVantage’s public statements were materially false and misleading at all relevant times. On September 13, 2016, LifeVantage announced that it would delay the release of its fourth quarter and fiscal year 2016 financial results. The reason for the delay was LifeVantage to carry out an internal review of sales into certain international markets and the revenue and income tax associated with those sales. The Company stated that it is unable to estimate the impact of the review to net revenue, tax expense, net income or other aspects of its financial statements for the fiscal year ended June 30, 2016 or any potential prior periods. When this information emerged to the public, the Company’s stock price fell, thus causing investors harm.
If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at email@example.com.
This press release may constitute Attorney Advertising in certain jurisdictions.
Joon M. Khang, Esq.
SOURCE: Khang & Khang LLP