Investigation Overview
June 6, 2016 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of Fortress Biotech Inc (NASDAQ:FBIO) was announced over potential breaches of fiduciary duties by certain officers and directors at Fortress Biotech.
The investigation by a law firm concerns whether certain Fortress Biotech Inc officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Fortress Biotech Inc (NASDAQ:FBIO) reported that its Net Loss increased from $20.39 million in 2014 to $48.43 million in 2015. Shares of Fortress Biotech Inc (NASDAQ:FBIO) grew from $1.48 per share in August 2014 to $4.34 per share in April 2015.
On June 1, 2016, NASDAQ:FBIO shares closed at $2.79 per share.