According to the law firm press release, the Complaint alleges throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company lacked adequate internal controls over its financial reporting; (2) as a result the Company could not adequately calculate DIR fees; (3) the Company’s hepatitis C segment was not performing as previously disclosed to investors; (4) and therefore, the Company had overstated its full-year 2016 guidance; and (5) that, as a result of the foregoing, Defendants’ statements about Diplomat’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

The Court appointed Lead Plaintiffs and Counsel on February 10, 2017. Lead Plaintiffs filed an amended Complaint on April 11. Defendants filed a Motion to Dismiss the amended Complaint on May 26. On January 19, 2018, the Court issued an Order denying Defendants' Motion to Dismiss. On April 3, 2019, the parties filed a notice of Settlement. The parties entered into a Stipulation of Settlement on April 22. On May 7, the Court issued an Order granting preliminary approval of the Settlement.