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LANNETT COMPANY, INC. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of Pennsylvania against Lannett Company, Inc.

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NEW YORK, Aug. 30, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities fraud class action lawsuit has been filed in the United States District Court for the Eastern District of Pennsylvania against Lannett Company, Inc. ("Lannett" or the "Company") (NYSE:LCI) on behalf of investors who purchased Lannett securities between February 7, 2018 through August 17, 2018, inclusive (the "Class Period").

Investors who have incurred losses in the securities of Lannett are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If you have incurred losses in the securities of Lannett, you may, no later than October 26, 2018,  request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Lannett.  

The filed complaint alleges that, Defendants made false and/or misleading statements and/or failed to disclose that:

  • Lannett faced a substantial risk of the loss of its exclusivity agreement with Jerome Stevens Pharmaceuticals ("JSP")
     
  • Lannett's reported revenues were unsustainable; and
     
  • as a result, defendants' statements about Lannett's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.

On August 20, 2018, prior to the market's open, Lannett announced that its exclusive distribution agreement with JSP would not be renewed upon its expiration in March 2019.  Lannett also stated that it intended to redouble its efforts to explore options for addressing the Company's capital structure.  On this news, Lannett's share price fell $8.15 or 60.3% to close at $5.35 on August 20, 2018. 

Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

Attorney Advertising. Prior results do not guarantee or predict a similar outcome.

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