2008-12-03 05:57:29 - A shareholders of KV Pharmaceutical Company has filed a lawsuit in on behalf of purchasers of KV Pharmaceutical Company Class A Common Stock (NYSE: KV-A), Class B Common Stock (NYSE: KV-B) and 7% cumulative convertible Preferred Stock (Symbol: KVPHP or CUSIP: 482740305) during the period between February 15, 2008 and November 12, 2008 against KV Pharmaceutical Company over alleged violations of Federal Securities Laws.

On Tuesday, December 02, 2008, a shareholder of KV Pharmaceutical Company has filed a proposed securities class action lawsuit in in the United States District Court for the Eastern District of Missouri on behalf of purchasers of KV Pharmaceutical Company Class A Common Stock (NYSE: KV-A), Class B Common Stock (NYSE: KV-B) and 7% cumulative convertible Preferred Stock (Symbol: KVPHP

or CUSIP: 482740305) during the period between February 15, 2008 and November 12, 2008 against KV Pharmaceutical Company over alleged violations of Federal Securities Laws. If you are a current shareholders and / or purchased KV Pharmaceutical Company Class A Common Stock (NYSE: KV-A), Class B Common Stock (NYSE: KV-B) and 7% cumulative convertible Preferred Stock (Symbol: KVPHP or CUSIP: 482740305) during the period between February 15, 2008 and November 12, 2008, you have certain options and there are strict and short deadlines running. (January 30, 2009). You should contact the Shareholders Foundation, Inc. immediately! Email: Mail(at)ShareholdersFoundation.com or call us today: +1-(858)-779-1554. According to the complaint the plaintiff alleges that The complaint charges KV Pharmaceutical Company ('KV'; NYSE: NYSE: KV.A, KV.B, and KVPHP) and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing materially false and misleading statements about KV's compliance with federal regulations concerning the manufacture and marketing of certain generic drug products as well as its current and future financial prospects. Then, on November 13, 2008, KV announced that it would be unable to file its Form 10-Q for the quarter ended September 30, 2008 due to a continuing investigation by the KV's Audit Committee into allegations of management misconduct concerning recalls of the KV's drug products and as a result of this news the price of KV common stock fell from $14.26 per share to $5.90 per share - a drop of nearly 59% - on extremely heavy volume of more than 6.6 million shares, 33 times the stock's average trading volume, so the lawsuit.