Aceto Corporation (NASDAQ: ACET)
Hagens Berman Sobol Shapiro LLP alerts investors in Aceto Corporation (NASDAQ: ACET) to the June 25, 2018 Lead Plaintiff deadline the securities class action pending in the U.S. District Court for the Eastern District of New York.
If you purchased or otherwise acquired shares of ACET between August 25, 2017 and April 18, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing ACET@hbsslaw.com.
On April 18, 2018, Defendants announced (1) their financial guidance issued on February 1, 2018 should no longer be relied upon, (2) Aceto anticipates recording asset impairment charges in the range of $230 million to $260 million on certain currently marketed and pipeline generic products, and (3) Aceto’s Chief Financial Officer (Edward Borkowski) resigned after just two months in that position.
This news drove the price of Aceto shares down $4.74, or over 64%, to close at $2.66 that day.
“We’re focused on investors’ losses and whether Aceto and senior officers knowingly violated Generally Accepted Accounting Principles,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Aceto 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 ACET@hbsslaw.com.
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