Law Offices of Howard G. Smith Announces Class Action Lawsuit Against K-V Pharmaceutical Company
November 02 2011 - 9:40PM
Business Wire
Law Offices of Howard G. Smith, representing investors of K-V
Pharmaceutical Company (“K-V" or the “Company”) (NYSE:KV-A)
(NYSE:KV-B), has filed a class action lawsuit in the United States
District Court for the Eastern District of Missouri on behalf of a
class consisting of all persons or entities who purchased K-V
securities between February 14, 2011 and April 4, 2011, inclusive
(the “Class Period”).
K-V is a specialty pharmaceutical company engaged in the
acquisition, development, manufacture and marketing of branded and
generic/non-branded prescription pharmaceutical products in the
United States, primarily focusing on women’s healthcare. The
Complaint alleges that, during the Class Period, K-V and certain of
the Company’s executive officers issued false and/or misleading
statements concerning the Company’s business and financial
prospects. Specifically, the Complaint alleges that defendants
misrepresented that the Food and Drug Administration (FDA) had
granted K-V the exclusive distribution rights over “Makena,” a drug
used to prevent miscarriages, and that the FDA would enforce those
rights by preventing K-V’s competitors from distributing generic
formulations of the drug. The Complaint further alleges that
defendants failed to disclosed that the drug’s $1,500 price
actually would reduce the availability of Makena to low-income and
other at-risk groups.
No class has yet been certified in the above action. Until a
class is certified, you are not represented by counsel unless you
retain one. If you purchased K-V securities between February 14,
2011 and April 4, 2011, you have until December 19, 2011, to move
for lead plaintiff status. To be a member of the class you need not
take action at this time; you may retain counsel of your choice or
take no action and remain an absent class member. If you wish to
discuss this action or have any questions concerning this Notice or
your rights or interests with respect to these matters, please
contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020,
by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email
to howardsmith@howardsmithlaw.com or visit our website at
http://www.howardsmithlaw.com.
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