NEW YORK, Nov. 25, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm announces a class action lawsuit was filed on behalf of purchasers of the common stock of Salix Pharmaceuticals, Ltd. (Nasdaq:SLXP) between November 8, 2013, and November 6, 2014. The lawsuit seeks to recover damages for Salix investors under the federal securities laws.
To join the Salix class action, go to the website at http://www.rosenlegal.com/cases-431.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Salix issued materially false and misleading financial information to investors. On November 6, 2014, Salix Pharmaceuticals announced lower than expected third-quarter earnings and sales forecasts, as well as the sudden resignation of its Chief Financial Officer, Adam Derbyshire. In a conference call with analysts that same day, Chief Executive Officer, Carolyn Logan, disclosed that the Audit Committee is probing the Company's statements concerning its inventory levels. On this news, the lawsuit claims that shares of Salix fell sharply, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 6, 2015. If you wish to join the litigation go to http://www.rosenlegal.com/cases-431.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.