King Pharmaceuticals, Inc.

A class action lawsuit was brought on behalf of purchasers of King Pharmaceuticals, Inc. ("King" or the "Company") common stock from February 16, 1999 through March 10, 2003 ("Class Period"), including all persons who acquired King common stock pursuant to, or traceable to King's public offering in November 2001 and any persons or entities who exchanged their shares of Jones Pharma Inc. for shares of King in August 2000. The complaint names King, John M. Gregory, Jefferson J. Gregory, Joseph R. Gregory, Kyle P. Macione and James P. Lattanzi as Defendants.

The complaint alleges that King shares traded at artificially inflated prices during the Class Period due to Defendants' issuance of false and misleading financial statements and press releases concerning the Company's financial condition and prospects. As alleged in the complaint, the Company failed to disclose material information necessary to make its prior statements not misleading, including that certain of its rebate and pricing practices subjected it to heightened governmental scrutiny and that King had engaged in questionable sales to VitaRx and Prison Health Services during 1999 and 2000. King failed to disclose these transactions until after March 11, 2003 when it announced that the SEC was investigating the Company.

Click here to view the complaint.

Click here to view press release.

Click here to join this class action.

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To find out more about this case, please contact us at shareholderrelations@spornlaw.com or 212-964-0046.

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Client Resources

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