INVESTOR ALERT: Investigation on Behalf of Retrophin, Inc. Shareholders Announced by Glancy Binkow & Goldberg LLP
Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of shareholders of Retrophin, Inc. (“Retrophin” or the “Company”) (NASDAQ:RTRX) concerning possible violations of federal securities laws. The investigation concerns the Company’s operations.
Please contact Casey Sadler at (310) 201-9150, or at firstname.lastname@example.org to discuss this matter. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
Retrophin is a biopharmaceutical company, focused on the development, acquisition and commercialization of therapies for the treatment of serious, catastrophic or rare diseases. The investigation is related to the Company’s September 16, 2014 disclosure that on September 12, 2014 Retrophin notified The Nasdaq Stock Market LLC that the Company failed to meet the requirements of Nasdaq Listing Rule 5605; specifically, (1) that the Company’s board of directors was no longer composed of a majority of independent directors, as required by Nasdaq Listing Rule 5605(b)(1), and (2) that the Audit Committee of the board was no longer composed of at least three independent directors, as required by Nasdaq Listing Rule 5605(c)(2)(A). According to the Company, on September 10, 2014, Jeffrey Paley, M.D. notified the Company that, effective immediately, he has resigned as a member of the Board, and on September 15, 2014, the Company entered into a separation agreement with the Company’s chief financial officer, pursuant to which his employment with the Company will terminate February 28, 2015. The Company further disclosed that “The Nasdaq Stock Market LLC issued a letter to the Company on September 15, 2014 indicating that the Company no longer complies with the independent director and audit committee requirements set forth in Nasdaq Listing Rule 5605.”
Following this news, Retrophin stock dropped approximately 8% below the previous day’s closing price, in intraday trading on September 17, 2014.
If you purchased Retrophin shares, if you have information, or would like to learn more, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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