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In conjunction with our partner lawyers, we are currently investigating claims for Physicians Formula shareholders who purchased shares of Physicians Formula and lost money on their investment as a result of the Company’s recent announcements.
Our Experienced Stock Fraud Lawyers and Attorneys Have Years of Experience Representing Shareholders in Numerous IPO Lawsuits.
Our investigation revolves around whether Physicians Formula, certain of its officers and directors, and the Company’s underwriters included, or allowed the inclusion of, materially false and misleading statements in the Registration Statement and Prospectus issued in connection with the Company’s IPO, in violation of the Securities Act of 1933. Recent corrective disclosures have caused the price of shares of Physicians Formula to fall precipitously.
Physicians Formula, whose brand was created in 1937 by an allergist for his wife, was purchased from French pharmaceutical firm Pierre Fabre in November 2003 through a management buyout financed by private-equity firm Summit Partners.
In November 2006, Physicians Formula sold 7.5 million shares at an initial public offering price of $17 a share. That was at the top of the expected, per-share price range of $15 to $17 set by underwriters Deutsche Bank AG and Citigroup Inc.
In August 2007, Physicians Formula posted a second-quarter loss of cents to 5 cents a share on revenue of $18.5 million to $20.5 million. By August 2008, shares in Physicians Formula were trading at less than $12 a share.
If you purchased stock during the Physician Formula IPO and have suffered a financial loss, you have valuable legal rights. Please fill out our online form or call us at 1-800-LAW INFO (1-800-529-4636) for a free consultation with one of our experienced stock fraud lawyers today.
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