Press release
Investigation announced for Investors in NASDAQ:LNDC shares over potential Wrongdoing at Landec Corporation
An investigation on behalf of investors in Landec Corporation (NASDAQ: LNDC) shares over potential wrongdoing at Landec Corp.
Investors who purchased shares of Landec Corporation (NASDAQ: LNDC) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Landec directors breached their fiduciary duties and caused damage to the company and its shareholders.
Santa Clara, CA based Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. Landec Corporation reported that its Total Revenue rose from $524.27 million for the 12 months period that ended on May 31, 2018 to $557.559 million for the 12 months period that ended on May 31, 2019, and that its Net Income over those time periods declined from $24.82 million to $0.411 million.
On January 2, 2020, Landec Corporation disclosed investigations by the U.S. Securities & Exchange Commission and Department of Justice regarding "potential environmental and Foreign Corrupt Practices Act ('FCPA') compliance matters associated with regulatory permitting" at a manufacturing plant in Mexico owned by Yucatan Foods, which Landec acquired in December 2018.
Shares of Landec Corporation (NASDAQ: LNDC) declined from $12.09 per share on December 19, 2019 to as low as $7.53 per share on March 25, 2020.
Those who purchased shares of Landec Corporation (NASDAQ: LNDC) have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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