IRVINE, Calif. -- (Business Wire)
Khang & Khang LLP (the “Firm”) announces a class action lawsuit has been
filed against LifeVantage Corporation (“LifeVantage” or the “Company”)
(Nasdaq: LFVN). Investors who purchased or otherwise acquired shares
between November 4, 2015 and September 13, 2016 inclusive (the “Class
Period”), are encouraged to contact the Firm prior to the November
14, 2016 lead plaintiff motion deadline.
If you purchased shares of LifeVantage during the Class Period, please
contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman
Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by
e-mail at joon@khanglaw.com.
There has been no class certification in this case. 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 alleges that during the Class Period, LifeVantage made
false and/or misleading statements and/or failed to disclose: that the
Company lacked effective internal financial controls; that the Company
improperly accounted for sales in certain international markets, along
with associated revenue and income tax accruals; and that as a result of
the above, LifeVantage’s public statements were materially false and
misleading at all relevant times. On September 13, 2016, the Company
announced that it would delay the release of its fourth quarter and
fiscal year 2016 financial results. The reason for the delay was
LifeVantage to carry out an internal review of sales into certain
international markets and the revenue and income tax associated with
those sales. The Company stated that it is unable to estimate the impact
of the review to net revenue, tax expense, net income or other aspects
of its financial statements for the fiscal year ended June 30, 2016 or
any potential prior periods. When this news was announced, shares of
LifeVantage decreased in value, causing investors harm.
If you wish to learn more about this lawsuit, or if you have questions
concerning this notice or your rights, please contact Joon M. Khang, a
prominent litigator for almost two decades, by telephone: (949)
419-3834, or by e-mail at joon@khanglaw.com.
This press release may constitute Attorney Advertising in some
jurisdictions.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160916005871/en/
Contacts:
Khang & Khang LLP
Joon M. Khang, Esq.
Telephone:
949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com
Source: Khang & Khang LLP
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