NEW YORK, Oct. 4, 2013 /PRNewswire/ -- Bernstein
Liebhard LLP today announced that a class action has been commenced
in the United States District Court for the Southern District of
New York on behalf of all those
who purchased securities of BioScrip, Inc. (NASDAQ: BIOS)
("BioScrip" or the "Company") between August
8, 2011 through September 20,
2013, inclusive (the "Class Period").
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BioScrip is a pharmacy benefit management and specialty
pharmaceutical organization that partners with managed care
organizations and healthcare providers to control prescription drug
costs. The Company provides pharmacy benefit products and
services and mail order pharmacy services, and is the fulfillment
center for online retailers offering prescription and OTC
products.
The Complaint alleges that throughout the Class Period,
Defendants made false and/or misleading statements, as well as
failed to disclose material adverse facts about the Company's
business, operations, and prospects. Specifically, Defendants
made false and/or misleading statements and/or failed to disclose
that: (1) the Company improperly distributed the product Exjade
through its specialty pharmacy operations; (2) the Company was in
violation of certain federal and state laws and regulations; and
(3) as a result of the foregoing, the Company's statements were
materially false and misleading at all relevant times.
On September 23, 2013, the Company
announced in a Form 8-K, that it received a civil investigative
demand issued by the United States
Attorney's Office for the Southern District of New York and a subpoena from the New York State Attorney General's Medicaid
Fraud Control Unit, regarding the distribution of the Novartis
Pharmaceuticals Corporation product Exjade by the Company's legacy
specialty pharmacy division.
On this news, BioScrip securities declined $2.60 per share or 23% within two trading
sessions, to close at $8.47 per share
on September 24, 2013.
Plaintiffs seek to recover damages on behalf of all Class
members who invested in BioScrip securities during the Class
Period. If you invested in BioScrip securities as described
above during the Class Period, and either lost money on the
transaction or still hold the security, you may wish to join in
this action to serve as lead plaintiff. In order to do so,
you must meet certain requirements set forth in the applicable law
and file appropriate papers no later than November 29, 2013.
A "lead plaintiff" is a representative party that acts on behalf
of other class members in directing the litigation. In order
to be appointed lead plaintiff, the court must determine that the
class member's claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members
may together serve as lead plaintiff. Your ability to share
in any recovery is not, however, affected by the decision whether
or not to serve as a lead plaintiff. You may retain Bernstein
Liebhard LLP, or other counsel of your choice, to serve as your
counsel in this action.
If you are interested in discussing your rights as a BioScrip
shareholder and/or have information relating to the matter, please
contact Joseph R. Seidman, Jr. at
(877) 779-1414 or seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities,
consumer and shareholder rights cases and recovered over
$3 billion for its clients. It
has been named to The National Law Journal's "Plaintiffs'
Hot List" in each of the last ten years.
You can obtain a copy of the complaint from the clerk of the
court for the United States District Court for the Southern
District of New York.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com
ATTORNEY ADVERTISING. © 2013 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com
SOURCE Bernstein Liebhard LLP