SAN DIEGO and MINNETONKA, Minn., Oct. 1, 2013 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of BioScrip Inc. (NASDAQ: BIOS) breached their fiduciary duties to shareholders. BioScrip provides home infusion and other home care services, and pharmacy benefit management services in the United States.
BioScrip Inc. Stock Drops on Announcement of Government Investigation
Shares of BioScrip fell $2.60 per share, or more than 23%, on September 24, 2013, after the company revealed in a regulatory filing that it was under government investigation. In particular, on September 23, 2013, BioScrip disclosed that it received a civil investigative demand issued by the United States Attorney's Office for the Southern District of New York and a subpoena from the New York State Attorney General's Medicaid Fraud Control Unit regarding the distribution of the Novartis Pharmaceuticals Corporation product Exjade(R) by the company's legacy specialty pharmacy division.
Robbins Arroyo LLP highlights that BioScrip shareholders have the option to pursue a shareholder derivative action through which shareholders aim to hold insider wrongdoers accountable for their actions, prevent future misconduct, and bring long-term value back to the company. 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 securities litigation and 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. For more information, please go to http://www.robbinsarroyo.com.
Press release link: http://www.robbinsarroyo.com/shareholders-rights-blog/BioScrip-inc/
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SOURCE Robbins Arroyo LLP