NEW YORK, Nov. 14, 2016 /PRNewswire-USNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Ligand Pharmaceuticals, Inc. ("Ligand" or the "Company") (NASDAQ: LGND) (ISIN: US53220K5048). Investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Ligand and certain of its officers and/or directors have violated the federal securities laws.
On November 9, 2016, Ligand announced that the Company would be unable to timely file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2016 and was reviewing a potential restatement. On November 14, 2016, post-market, Ligand announced that the Company would restate financial statements for the quarters ended September 30, 2015; December 31, 2015; March 31, 2016; and June 30, 2016, due to a material error. Ligand announced that the Company's management determined that Ligand did not maintain effective controls over the accuracy and presentation of accounting for income taxes related to complex transactions.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP