Ligand Pharmaceuticals Incorporated

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Case Summary
Company Name: Ligand Pharmaceuticals Incorporated
Stock Symbol : NASDAQ: LGND
Class Period Start: 11/09/2015
Class Period End: 11/14/2016
Lead Plaintiff motion: 01/17/2017
Date Filed: 11/17/2016
Type of Case: Securities Class Action
Court: U.S. District Court for the Southern District of California
Summary:

Thieler Law Corp advises investors with losses exceeding $100,000 of the January 17, 2017 lead plaintiff deadline in a class action lawsuit filed against Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) (“Ligand” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of California and investors, who purchased Ligand Pharmaceuticals Incorporated securities between November 9, 2015 and November 14, 2016, have until January 17, 2017 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Ligand Pharmaceuticals Incorporated securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Ligand overstated the value of certain Deferred Tax Assets by approximately $27.5 million; Ligand's outstanding convertible senior unsecured notes due 2019 should have been classified as short-term debt rather than long-term debt as of December 31, 2015; Ligand did not maintain effective controls over the accuracy and presentation of the accounting for income taxes related to complex transactions; and in turn, Ligand lacked effective internal control over financial reporting.

On November 14, 2016, the Company revealed that it would restate financial statements for the quarters ended September 30, 2015; December 31, 2015; March 31, 2016; and June 30, 2016, due to a material error. The Company also revealed that its management concluded that the Company did not maintain effective controls over the accuracy and presentation of accounting for income taxes related to complex transactions.

If you were negatively impacted by your investment in Ligand Pharmaceuticals Incorporated securities between November 9, 2015 and November 14, 2016 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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