The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Lannett Company, Inc. (NYSE: LCI) who purchased shares between February 7, 2018 and August 17, 2018. The action, which was filed in the United States District Court for the Eastern District of Pennsylvania, alleges that the Company violated federal securities laws.
In particular, the Lannett lawsuit alleges that (1) Lannett faced a substantial risk of the loss of its exclusivity agreement with Jerome Stevens Pharmaceuticals; (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.
Shareholders have until October 26, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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