NEW YORK, Nov. 7, 2014 /PRNewswire/ -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Salix Pharmaceuticals, Ltd. ("Salix Pharmaceuticals" or the "Company") (NasdaqGS: SLXP -News). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at [email protected] or 212-697-6484.
The investigation concerns whether Salix Pharmaceuticals and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On November 6, 2014, the Company posted lower than expected third-quarter earnings and sales forecasts and announced the sudden resignation of its chief financial officer ("CFO"), Adam Derbyshire, who is being replaced by Timothy Creech as Acting CFO. Also The Company, in a conference call with analysts, stated the board of directors' audit committee is probing Salix's statements regarding its inventory levels, the implication being that they suspected the firm of dishonesty.
On this news, shares of Salix Pharmaceuticals fell $49.42 per share, or 35.67% during intraday trading to trade at $89.13 per share on November 7, 2014.
If you are aware of any facts relating to this investigation, or purchased shares of Salix Pharmaceuticals, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
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