Securities fraud class action litigation has been filed on behalf of investors in GNC Holdings, Inc. (“GNC” or the “Company”) (NYSE: GNC). If you purchased or otherwise acquired the securities of GNC between May 2, 2013 and October 22, 2015, inclusive (the “Class Period”), you may move the court for appointment as lead plaintiff by no later than December 28, 2015.
You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the action. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.
GNC investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.
Background on the GNC Class Litigation
The action charges GNC and certain of its senior executives with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder. GNC operates as a specialty retailer of health and wellness products.
The action alleges that, throughout the Class Period, defendants issued materially false and misleading statements and/or failed to disclose that: (1) GNC unlawfully sold thousands of units of products in Oregon containing picamilon and BMPEA; (2) GNC unlawfully sold thousands of units of products in Oregon that contained BMPEA; and (3) as a result of the foregoing, the Company’s public statements were materially false and misleading at all relevant times.
On October 22, 2015, the Oregon Attorney General announced a lawsuit against GNC arising from the Company’s sale of nutritional and dietary supplements containing the illegal ingredients picamilon and BMPEA. On this news, the price of GNC shares fell $5.73 per share, or 14.24% from a previous closing price of $40.23 on October 21, 2015, to close at $34.50 per share on October 22, 2015, on extremely heavy trading volume.
Shareholder Contact Form
We will review your claim without fee or obligation. Lieff Cabraser agrees to protect your name and all confidential information you submit against disclosure, publication or unauthorized use to the full extent under the law.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for twelve years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Best Lawyers and U.S. News have also named Lieff Cabraser as a “Law Firm of the Year” each year the publications have given this award to law firms.