Accesswire 13-Jan-2017 10:55 AM
LOS ANGELES, CA / ACCESSWIRE / January 13, 2017 / Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Ligand Pharmaceuticals Incorporated ("Ligand" or the "Company") (NASDAQ: LGND). Investors, who purchased or otherwise acquired shares between November 9, 2015 and November 14, 2016 inclusive (the "Class Period"), are encouraged to 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 firstname.lastname@example.org.
No class has been certified in the above action yet. 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 claims that 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 proper internal control over financial reporting; and that as a result of the above allegations, Ligand's statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When this information was released, shares of Ligand declined in value, causing investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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SOURCE: Lundin Law PC