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Investor Class Action Filed Against Lannett Company, Inc. for Securities Fraud Violations

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Lannett Company, Inc. (“Lannett”) (NYSE: LCI) securities between February 7, 2018 and August 17, 2018, inclusive (the “Class Period”).


Lannett investors may receive additional information about the case by clicking the link "Submit Your Information" above.

According to the complaint, Lannett develops, manufactures, packages, markets and distributes solid oral (tablets and capsules), extended release, topical, and oral solution finished dosage forms of drugs that address a wide range of therapeutic areas.  At all relevant times, Lannett had an exclusivity agreement with its primary supplier, Jerome Stevens Pharmaceuticals (“JSP”), owned and operated by the Steinlauf family, set to expire on March 23, 2019.  JSP’s products have historically accounted for at least one-third of Lannett’s sales.
 
The Class Period commences on February 7, 2018, when Lannett issued a press release announcing the company’s financial and operating results for the second fiscal quarter ended December 31, 2017.

The complaint alleges that on August 20, 2018, prior to the market opening, Lannett issued a press release stating, in part, “that its distribution agreement with Jerome Stevens Pharmaceuticals (JSP), which expires on March 23, 2019, will not be renewed.”

Following this news, Lannett’s share price fell $8.15, or 60.3%, to close at $5.35 on August 20, 2018.

The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (i) Lannett faced a substantial risk of the loss of its exclusivity agreement with JSP; (ii) accordingly, Lannett’s reported revenues were unsustainable; and (iii) as a result, Lannett’s public statements were materially false and misleading at all relevant times.

If you are a member of the class described above, you may no later than October 26, 2018 move the Court to serve as lead plaintiff of the class, if you so choose.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com. 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.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form relating to your transactions for Lannett Company, Inc.(NYSE: LCI) securities between February 7, 2018 and August 17, 2018, inclusive (the “Class Period”).

Once completed, please click the orange “Submit Your Information” button at the bottom of this page. You may also contact James Maro, Jr., Esq. or Adrienne Bell, Esq. at 610.667.7706 or toll free at 888.299.7706, or you may submit your information via email at info@ktmc.com.

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# of Shares
Price per Share
 
 
 
Principal Amount
Amount Paid
Series or CUSIP
 
 
 
# of Contracts
Price per Contract
Exercise Price
Expiration Date
Did you purchase shares of Lannett Company, Inc. prior to the Class Period?
Are you a current or former employee of Lannett Company, Inc.?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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