UNIONDALE, N.Y., March 4, 2009 (GLOBE NEWSWIRE) -- Mark & Associates, P.C. is investigating the conduct of KV Pharmaceutical (NYSE:KV-A) and (NYSE:KV-B), as alleged in a recently filed proposed class action lawsuit in United States District Court for the Eastern District of Missouri "Docket no. 4:09-cv-00061-RWS", to determine if the company and its officers and directors violated the Securities Exchange Act of 1934. KV Pharmaceutical shareholders are encouraged to explore their legal rights by requesting a free consultation at http://www.youhaverights.com/corporate-fraud/kv-pharma.
The lawsuit alleges that the Company, its officers and directors violated the Securities Exchange Act of 1934 by making material misrepresentations about the Company's current and future financial prospects. The complaint further alleges that the defendants made materially false and misleading statements about the Company's compliance with federal regulations concerning the manufacturing and marketing of generic medications.
KV Pharma Class A shares have fallen from a 52 week high of $28.25 to a low of $0.40, while KV Pharma Class B shares have fallen from a 52 week high of $27.87 to a low of $0.47. If you are a current KV Pharma shareholder who purchased shares prior to June 2008, please contact Mark & Associates, P.C. to have your case evaluated and learn your legal rights. You can request a free consultation by completing an inquiry form at http://www.youhaverights.com/corporate-fraud/kv-pharma or by calling 1-866-50-RIGHTS (1-866-507-4448).
KV Pharmaceutical Company, which is headquartered in St. Louis, Missouri, engages in the development, manufacture, acquisition, marketing, and sale of branded and generic prescription pharmaceutical products. The Company was recently sued by the U.S. Department of Justice to prevent it from manufacturing and distributing unapproved and adulterated drugs. As a result of the suit, the Company entered into a consent decree with the FDA which requires it to meet a series of measures before it can resume manufacturing and distributing products.
About Mark & Associates, P.C.
Mark & Associates, P.C. is a leading consumer law firm with offices in Boston, Massachusetts and Long Island, New York. The firm aggressively represents victims of securities and investment fraud, insurance bad faith, defective products, dangerous pharmaceuticals and medical devices and serious accidents. More information on Mark & Associates, P.C. is available at http://www.youhaverights.com.
More information on this and other class actions can be found on the Class Action Newsline at www.globenewswire.com/ca/