NEW YORK--(BUSINESS WIRE)--
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) resulting from allegations that Ligand may have issued materially misleading business information to the investing public.
On November 9, 2016, Ligand announced that it would be unable to timely file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2016 and was reviewing a potential restatement. On November 14, 2016, during aftermarket hours, Ligand announced that “the following financial periods contain a material error, should not be relied upon and need to be restated: September 30, 2015, December 31, 2015, March 31, 2016 and June 30, 2016” and its management determined that Ligand did not maintain effective controls over the accuracy and presentation of accounting for income taxes related to complex transactions. On this news, shares of Ligand fell $3.27 per share or approximately 3% to close at $106.18 per share on November 15, 2016, damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Ligand investors. If you purchased shares of Ligand please visit the firm’s website at http://www.rosenlegal.com/cases-996.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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