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Robbins Arroyo LLP Is Investigating the Officers and Directors of LifeVantage Corporation (LFVN) on Behalf of Shareholders

2017-01-31 15:40 ET - News Release


Company Website: http://www.robbinsarroyo.com
SAN DIEGO & SANDY, Utah -- (Business Wire)

Shareholder rights law firm, Robbins Arroyo LLP, is investigating whether certain officers and directors of LifeVantage Corporation (NASDAQCM: LFVN) breached their fiduciary duties to shareholders by issuing materially false and misleading statements regarding the company's business and operations and its compliance policies. LifeVantage identifies, researches, develops, and distributes nutraceutical dietary supplements and skin care products.

View this press release on the firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/lifevantage-corporation-jan-2017

LifeVantage Faces Lawsuits Over Lax Internal Controls

On September 13, 2016, LifeVantage announced in a filing with the U.S. Securities and Exchange Commission that it would be unable to file its Annual Report by the filing deadline. The company attributed the delay to the commencement of an internal review of policies and procedures, with a specific focus on sales into certain international markets and the revenue and income tax accruals associated with such sales. LifeVantage further disclosed that it was unable to predict 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. On this news, LifeVantage's stock fell by $1.32 per share, or 12.69%, to close at $9.08 per share on September 14, 2016. Notably, LifeVantage's misconduct has subjected the company to a federal securities fraud class action lawsuit and a shareholder derivative lawsuit, both pending in the U.S. District Court for the District of Utah.

LifeVantage Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contacts:

Robbins Arroyo LLP
Darnell R. Donahue
(619) 525-3990 or Toll Free (800) 350-6003
DDonahue@robbinsarroyo.com
www.robbinsarroyo.com

Source: Robbins Arroyo LLP

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