Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

NBTY shareholder lawsuit

This article was originally published in The Tan Sheet

Executive Summary

Central Islip, N.Y. federal Judge Arthur Spatt dismisses consolidated shareholder class action against dietary supplement firm due to failure to adequately plead fraud. In Sept. 28 opinion, court says plaintiffs' allegations that NBTY failed to disclose several known adverse trends affecting company's financial health, including dramatic weakening in its retail sector, are "conclusory and insufficiently supported by the facts." Plaintiffs have 30 days to amend the complaint. Action was filed on behalf of purchasers of NBTY common stock between Jan. 27, 2000 and June 15, 2000, and alleged the company, certain officers and directors failed to disclose material facts that resulted in a drop in firm's stock price (1"The Tan Sheet" Aug. 14, 2000, p. 2)...
Advertisement

Related Content

Topics

Advertisement
UsernamePublicRestriction

Register

PS094621

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel