SAN DIEGO, April 28, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending in Pennsylvania on behalf of certain purchasers of shares of GNC Holdings Inc (NYSE:GNC) over alleged Securities Laws Violations by GNC Holdings Inc.
Investors who purchased shares of GNC Holdings Inc (NYSE:GNC) prior to December 2011 and currently hold any of those NYSE:GNC shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
In October 2015, the State of Oregon sued GNC Holdings Inc, claiming that the company's nutritional and dietary supplements are laced with unapproved drugs, including picamilon and BMPEA. According to the complaint GNC Holdings Inc violated the Oregon Unlawful Trade Practices ACT (“UTPA”) by misrepresenting some of its products as lawful dietary supplements. The complaint alleges that certain products that were misrepresented are unapproved drugs that may not be lawfully sold in the United States as a dietary supplement. In addition, the complaint alleged that GNC Holdings Inc sold products labeled containing botanical acacia rigidula that were added with unlabeled BMPEA and that GNC Holdings Inc allegedly sold thousands of units of products containing picamilon or BMPEA that were falsely labeled as a dietary supplement.
In November 2015 a lawsuit was filed against GNC Holdings Inc over alleged Securities Laws Violations. The plaintiff alleged that the defendants issued materially false and misleading statements to investors and/or failed to disclose that GNC Holdings unlawfully sold thousands of units of products in Oregon that contained picamilon, that GNC Holdings unlawfully sold thousands of units of products in Oregon that contained BMPEA, and that as a result of the foregoing, GNC Holdings’ public statements were materially false and misleading at all relevant times. In March 2016 an amended complaint was filed.
Those who purchased shares of GNC Holdings Inc (NYSE:GNC) prior to December 2011 and currently hold any of those NYSE:GNC shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at email@example.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 firstname.lastname@example.org 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
Source:Shareholders Foundation, Inc.