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If you are a current long-term stockholder of shares of PharMerica Corporation (NYSE:PMC), you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
August 26, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of PharMerica Corporation (NYSE:PMC) was announced concerning whether certain PharMerica officers and directors possibly breached their fiduciary duties in connection with certain statements.
The investigation by a law firm concerns whether certain PharMerica officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by, among other things, failing to implement adequate internal controls.
PharMerica Corporation reported that its annual Total Revenue declined from over $2.08 billion in 2011 to over $1.83 billion in 2012 and that its respective Net Income declined from $23.40 million to $2.90 million.
On August 9, 2013 the Department of Justice announced that it had filed a suit against PharMerica Corporation for allegedly violating the False Claims Act and the Controlled Substances Act by dispensing controlled substances without valid prescriptions and causing claims for illegally dispensed drugs to be submitted for reimbursement under the Medicare program.
Shares of PharMerica Corporation (NYSE:PMC) declined from $15.27 per share in August 5, 2013, to $12.28 on august 23, 2013.
On August 26, 2013, NYSE:PCM shares closed at $12.52 per share.
