Market Overview

Glancy Prongay & Murray LLP Files a Securities Class Action Notifying Investors of Expanded Class Period (AKRX)


Prongay & Murray LLP
 ("GPM") announces that it has filed a class
action lawsuit in the United States District Court for the Northern
District of Illinois, captioned Juan v. Akorn Inc. et al., (Case
No. 19-cv-2720), on behalf of persons and entities that purchased or
otherwise acquired Akorn, Inc. (NASDAQ: AKRX)
("Akorn" or the "Company") securities between May 2, 2018 and January
8, 2019
, inclusive (the "Class Period"). Plaintiff pursues claims
under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934
(the "Exchange Act").

Investors are hereby notified that they have until April
22, 2019
to move the Court to serve as lead plaintiff in this action.

If you are a shareholder who suffered a loss, click here
to participate.

On January 9, 2019, Akorn announced that it had received a warning
letter "dated January 4, from the U.S. Food and Drug Administration
(FDA) related to an inspection of its Decatur, Illinois manufacturing
facility in April and May of 2018." The warning letter from the FDA
detailed a laundry list of "significant violations of current good
manufacturing practice (CGMP) regulations for finished pharmaceuticals."
On this news, shares of Akorn fell $0.46 per share or over 11.6% to
close at $3.48 per share on January 9, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and misleading statements
regarding the Company's business, operational and compliance policies.
Specifically, Defendants made false and/or misleading statements and/or
failed to disclose that: (1) Akorn's management misled investors
concerning the severity of Akorn's manufacturing violations at its
Decatur, Illinois facility; (2) Akorn's responses to the FDA's Form
483—which contained a list of observations made by the FDA during its
inspection of Akorn's Decatur, Illinois facility in April and May
2018—would be deemed inadequate by the FDA; (3) Akorn repeatedly failed
to correct manufacturing violations at this facility; (4) the foregoing
would subject Akorn to heightened regulatory scrutiny by the FDA; and
(5) as a result, Akorn's public statements were materially false and
misleading at all relevant times.

Follow us for updates on Twitter:

If you purchased Akorn securities during the Class Period, you may move
the Court no later than April 22, 2019 to ask the Court
to appoint you as lead plaintiff. To be a member of the Class you need
not take any action at this time; you may retain counsel of your choice
or take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to,
or visit our website at
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

View Comments and Join the Discussion!