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SAN FRANCISCO, Aug. 29, 2018 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP alerts investors in Lannett Company, Inc. (NYSE: LCI) to the October 26, 2018 Lead Plaintiff deadline in the securities class action pending in the United States District Court for the Eastern District of Pennsylvania. If you purchased or otherwise acquired Lannett Company securities between February 7, 2018 and August 17, 2018 (the “class period”) and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
During the class period Defendants are alleged to have downplayed the risk that Lannett’s exclusivity agreement with its primary supplier (Jerome Stevens Pharmaceuticals, or “JSP”) would not be renewed.
Then, on August 20, 2018, Defendants announced JSP did not renew the agreement. This news drove the price of Lannett shares down $8.15, down over 60%, to close at $5.35 that day.
“We’re focused on investors’ losses, whether JSP’s non-renewal was related to several Attorneys Generals’ price-fixing allegations against Lannett, and possible impairment charges,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Lannett Company should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email LCI@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80+ attorneys in 10 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000