In Re Nutrisystem, Inc. Derivative Litigation
District Court, E.D. Pennsylvania
This document relates to: All Actions.
1Opinion of the Court
MEMORANDUM
McLAUGHLIN, District Judge.
This is a derivative action involving NutriSystem, Inc. (“NutriSystem”), a publicly-traded company that sells weight management products. NutriSystem’s share price fell markedly on October 3, 2007, when the company announced a lowered earnings forecast as a result of competition from Alii, an over-the-counter anti-obesity drug produced by GlaxoSmithKline (“GSK”) and released in June 2007. Several lawsuits were filed in this district within a month of this drop in share price, each alleging, among other claims, that NutriSystem and its management made false…
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- Aronson v. LewisSupreme Court of Delaware · 1984
- Ross v. BernhardSupreme Court of the United States · 1969
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