Aceto Corporation Securities Fraud Class Action
Case Background:
This is a federal securities fraud class action lawsuit on behalf those who purchased or otherwise acquired Aceto Corporation (“Aceto”) securities between August 25, 2017 and February 19, 2019, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Aceto failed to implement and enforce proper internal control to identify the misapplication of cash; (2) the company would incur large non-cash intangible asset impairment charges; (3) Aceto further lacked effective internal control over financial reporting; (4) the company’s financial results for the fiscal year 2017 could not be relied upon and its fiscal 2018 financial guidance was overstated; and (5) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On August 3, 2020, the Court granted Defendants’ Motion to Dismiss. On April 15, 2021, Lead Plaintiffs appealed the Court’s dismissal to the United States Court of Appeals for the Second Circuit, and on February 1, 2022, the Second Circuit affirmed the District Court’s decision. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.