GNC Holdings, Inc.
GNC HOLDINGS, INC. SHAREHOLDER INVESTIGATION - GNC
Kessler Topaz Meltzer & Check, LLP has initiated an investigation of GNC Holdings, Inc. (NYSE: GNC) (“GNC” or “the Company”) on behalf of the Company’s shareholders.
On October 22, 2015, the Attorney General of Oregon sued GNC claiming that it sold “nutritional and dietary supplements containing the illegal ingredients picamilon and BMPEA.” Among other things, the Attorney General alleged that GNC was “misrepresenting certain products as lawful dietary supplements when they are actually unapproved drugs that may not be lawfully sold in the United States as a dietary supplement.”
On this news, shares of GNC’s common stock declined $5.73 per share, more than 14%, to close on October 22, 2015 at $34.50 per share.
Then on October 29, 2015, GNC reported third quarter 2015 financial and operational results that fell far short of Wall Street analyst expectations. Additionally, GNC reduced its outlook from a consolidated earnings per share (“EPS”) outlook of $3.00 – $3.10 per share to $2.85 – $2.90 per share for fiscal 2015.
On this additional news, shares of GNC’s common stock declined over $11.00 per share, or over 28%, in intraday trading on October 29, 2015.
If you would like to learn more about our investigation, please fill out our online form or contact us today at 888-299-7706 or [email protected].
CONTACT:
Kessler Topaz Meltzer & Check, LLP
D. Seamus Kaskela, Esq.
Adrienne O. Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(888) 299 – 7706
(610) 667 – 7706
[email protected]