NEW YORK, NY / ACCESSWIRE / October 26, 2018 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Lannett Company, Inc. ("Lannett" or the "Company") (LCI) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Lannett securities between February 7, 2018 and August 17, 2018, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/lci.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Lannett faced a substantial risk of the loss of its exclusivity agreement with Jerome Stevens Pharmaceuticals ("JSP"); (2) accordingly, Lannett's reported revenues were unsustainable, and (3) as a result, Lannett's public statements were materially false and misleading at all relevant times.
On August 20, 2018, prior to market open, Lannett announced that its distribution agreement with JSP will not be renewed upon its expiration in March 2019. Lannett stated that it "intend[ed] to redouble our continuing efforts to explore options for addressing our capital structure." Following this news, Lannett's share price fell $8.15, or 60.3%, to close at $5.35 on August 20, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/lci or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Lannett you have until October 26, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC