Tuesday, August 26, 2014

Multiple Class-Action Suits Filed Against Vitamin Maker

From the NYT:

At least 9 class-action lawsuits were filed in Federal District Court in Islip in the last week against NBTY, the vitamin and supplement company in Bohemia, after the company announced last month that sales had fallen at some of its operations.
The suits accuse Scott Rudolph, the chairman of the company, and Harvey Kamil, its president, of defrauding investors by using a promotional mailing to increase sales beyond analysts' expectations and then predicting, erroneously, continuing revenue growth.