Lannett Company CEO Purchases Stock; Files Amended Form 4 to Correct Purchase Date.PHILADELPHIA Philadelphia, ancient cities Philadelphia, name of several ancient cities. One was in Lydia, W Asia Minor (now W Turkey). At the foot of Mt. Tmolus and near the location of modern Alaşehir, it was founded in the 2d cent. B.C. -- Lannett Company, Inc. (AMEX AMEX See: American Stock Exchange :LCI LCI Livable Centers Initiative LCI Life Cycle Inventory LCI Landing Craft, Infantry LCI La Chaine Info (French cable news channel) LCI Lean Construction Institute LCI Lions Club International ), a manufacturer of generic pharmaceuticals, today announced that a Form 4 incorrectly indicated Arthur Bedrosian, the company's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , purchased shares of Lannett Company common stock in the open market on February 6, 2006. In fact, Mr. Bedrosian purchased 2,300 shares on February 8, 2006 after the company had issued its fiscal 2006 second quarter financial results. An amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. Form 4 was filed today reflecting the correct date the shares were purchased. The company also announced that Mr. Bedrosian purchased an additional 1,000 shares of Lannett Company common stock today and a properly executed Form 4 was filed with the U.S. Securities and Exchange Commission (SEC). About Lannett Company: Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of indications. For more information, visit Lannett Company's website at www.lannett.com. |
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