RADNOR, PA / ACCESSWIRE / May 10, 2018 / Kaskela Law LLC reminds Aceto Corp. (ACET) ("Aceto" or the "Company") shareholders that a class action lawsuit has been filed on behalf of purchasers of the Company's securities between August 25, 2017 and April 18, 2018, inclusive (the "Class Period").
DEADLINE NOTICE: Investors who purchased Aceto securities during the Class Period may, no later than June 25, 2018, seek to be appointed as a lead plaintiff representative of the investor class. Aceto investors are encouraged to visit www.kaskelalaw.com/case/aceto-corp/ to receive additional information about this action.
Following this news, Aceto's common stock declined $4.74 per share, or over 64%, to close on April 19, 2018 at $2.66 per share.
The shareholder class action complaint alleges that Aceto and certain of its senior executive officers made false and misleading statements and/or failed to disclose to investors that: (i) the Company failed to implement and enforce proper internal control to identify the misapplication of cash; (ii) the Company would incur large non-cash intangible asset impairment charges, (iii) the Company lacked effective internal control over financial reporting; (iv) the Company's financial results for the fiscal year 2017 could not be relied upon; and (v) the Company's fiscal 2018 financial guidance was overstated. The complaint further alleges that, as a result of the foregoing, investors purchased Aceto's common stock at artificially inflated prices during the Class Period and sustained significant investment losses when the truth was revealed.
Aceto investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740, or via www.kaskelalaw.com/case/aceto-corp/, to discuss their legal rights and options with respect to this action.
Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
SOURCE: Kaskela Law LLC