INVESTOR ALERT: Brower Piven Encourages Shareholders Who Have Losses In Excess Of $100,000 From Investment In Diplomat Pharmacy, Inc. To Contact Brower Piven Before The Lead Plaintiff Deadline In Class Action Lawsuit
The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Michigan on behalf of purchasers of Diplomat Pharmacy, Inc. (NYSE: DPLO) ("Diplomat" or the "Company") securities during the period between October 9, 2014 through November 2, 2016, inclusive (the "Class Period"). Investors who wish to become proactively involved in the litigation have until January 9, 2017 to seek appointment as lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Diplomat securities during the Class Period. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that the Company lacked adequate internal controls over its financial reporting, it could not adequately calculate direct and indirect remuneration fees ("DIR fees"), the Company's hepatitis C segment was not performing as previously disclosed to investors, and the Company had overstated its full-year 2016 guidance. According to the complaint, following an October 26, 2016 resignation of the Company's Chief Financial Officer, and a November 2, 2016 announcement that the Company was lowering its high end guidance for the full year 2016 because of softness in the hepatitis C business and DIR fees, the value of Diplomat shares declined significantly.