Lannett Company, Inc. (NYSE: LCI)
Hagens Berman Sobol Shapiro LLP reminds investors in Lannett Company, Inc. (NYSE: LCI) of 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 shares of LCI between February 7, 2018 and August 17, 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 LCI@hbsslaw.com.
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.
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