DIPLOMAT PHARMACY, INC. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California against Diplomat Pharmacy, Inc.
NEW YORK, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of investors who purchased or otherwise acquired Diplomat Pharmacy, Inc. (“Diplomat” or the “Company”) (NYSE: DPLO) securities between February 26, 2018 and February 21, 2019 (the “Class Period”), inclusive.
Investors who purchased shares of Diplomat Pharmacy, Inc. are urged to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website www.whafh.com.
If you have incurred losses in the shares of Diplomat Pharmacy, Inc., you may, no later than April 25, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Diplomat Pharmacy, Inc.
The filed complaint alleges that throughout the class period defendants made false and/or misleading statements and/or failed to disclose that:
-- Diplomat had downplayed its success in integrating and growing its PBM business, which included LDI Integrated and National Pharmaceutical, two companies Diplomat had acquired in late 2017; -- consequently, Diplomat would need to record a non-cash impairment charge upwards of approximately $630 million relating to its PBM business and these 2017 acquisitions; -- due to the foregoing, Diplomat would withdraw its preliminary 2019 full-year outlook issued less than seven weeks prior; and -- as a result, defendants’ statements about Diplomat’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On February 22, 2019, Diplomat filed a Form 8-K with the Securities and Exchange Commission (SEC) announcing it was postponing the release of its Form 10-K for the fiscal year ended December 31, 2018 due to a “recent determination” that it would need to record a non-cash impairment charge upwards of approximately $630 million relating to 2017 acquisitions for its PBM business.
On this news, Diplomat’s share price fell from $13.46 per share on February 21, 2019 to a closing price of $5.87 on February 22, 2019, a 56.4% drop.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq.Gregory Stone, Director of Case and Financial AnalysisEmail: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org Tel: (800) 575-0735 or (212) 545-4774
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