LOS ANGELES--(BUSINESS WIRE)--
Lundin Law PC, a shareholder rights firm, announces the filing of a class action lawsuit against Ligand Pharmaceuticals Incorporated (“Ligand” or the “Company”) (Nasdaq: LGND) concerning possible violations of federal securities laws between November 9, 2015 and November 14, 2016 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm in advance of the January 17, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here. You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at [email protected].
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, Ligand made false and/or misleading statements and/or failed to disclose: that Ligand overstated the value of certain Deferred Tax Assets by about $27.5 million or 13%; that the Company’s outstanding convertible senior unsecured notes due 2019 should have been classified as short-term debt rather than long-term debt as of December 31, 2015; that Ligand did not maintain effective controls over the accuracy and presentation of the accounting for income taxes related to complex transactions; that the Company lacked effective internal control over financial reporting; and that as a result of the above, Ligand’s statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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