NEW YORK, Oct. 30, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a securities class action has been filed in the United States District Court for the District of Oregon on behalf of those who purchased shares of GNC Holdings, Inc. ("GNC" or the "Company") (NYSE: GNC), during the period between May 2, 2013 and October 22, 2015 inclusive. (the "Class Period").
According to the Complaint, throughout the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) GNC unlawfully sold thousands of units of products in Oregon that contained picamilon; (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 State of Oregon sued the company, claiming that the company's nutritional and dietary supplements are laced with unapproved drugs, including picamilon, a Russian prescription medicine for neurological conditions, and BMPEA, which was first synthesized in the 1930s as a replacement for amphetamines and never studied in humans.
Following this news, shares of GNC fell $5.73, or 14.24%, to close at $34.50 on October 22, 2015.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. 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 and telephone number. If you suffered a loss in GNC you have until December 28, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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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