22/04/2019 19:27:13

Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Akorn, Inc.

LOS ANGELES, April 22, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the April 22, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Akorn, Inc. (“Akorn” or the “Company”) (NASDAQ: AKRX) securities between August 1, 2018 and January 8, 2019, inclusive (the “Class Period”). Akorn investors have until April 22, 2019 to file a lead plaintiff motion in this class action.

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.

On January 9, 2019, Akorn announced that it had received a warning letter “dated January 4, from the U.S. Food and Drug Administration (FDA) related to an inspection of its Decatur, Illinois manufacturing facility in April and May of 2018.” The warning letter from the FDA detailed a laundry list of “significant violations of current good manufacturing practice (CGMP) regulations for finished pharmaceuticals.” On this news, shares of Akorn fell $0.46 per share or over 11.6% to close at $3.48 per share on January 9, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Akorn’s management misled investors concerning the severity of Akorn’s manufacturing violations at its Decatur, Illinois facility; (2) Akorn’s responses to the FDA’s Form 483—which contained a list of observations made by the FDA during its inspection of Akorn’s Decatur, Illinois facility in April and May 2018—would be deemed inadequate by the FDA; (3) Akorn repeatedly failed to correct manufacturing violations at this facility; (4) the foregoing would subject Akorn to heightened regulatory scrutiny by the FDA; and (5) as a result, Akorn’s public statements were materially false and misleading at all relevant times.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased or otherwise acquired Akorn securities during the Class Period you may move the Court no later than April 22, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.  If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Glancy Prongay & Murray LLP, Los Angeles

Lesley Portnoy, 310-201-9150 or 888-773-9224

shareholders@glancylaw.com

www.glancylaw.com

GPM Logo.jpg

Related content
30 May - 
Akorn to Present at the Jefferies 2019 Global Healthcar..
20 May - 
Akorn Receives FDA Approval for Azelastine Hydrochlorid..
20 May - 
Akorn to Present at the RBC Capital Markets Healthcare ..
Related debate
08 May - 
nu har jeg brugt lidt tid på selskabet, de melder om st..
08 May - 
har desværre ikke så mange, men omsætningeen steg jo be..
08 May - 
hold da, godt nok var ders regnskab i går rigtig godt m..
Del

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
Ingen indlæg

#

EuroInvestor: In Focus
#

#

EuroInvestor: In Focus
#

#

EuroInvestor: In Focus
#

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Multiplying Good Recognizes Local Volunteers for Outstanding Public Service at 2019 Jefferson Awards in Washington, D.C.
2
Green Plains Prices Offering of $105 Million Aggregate Principal Amount of 4.00% Convertible Senior Notes due 2024
3
Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Indivior, Heron Therapeutics, Mammoth Energy, and ChinaCache and Encourages Investors to Contact the Firm
4
CLASS ACTION REMINDERS for FND, LTHM, PSMT, and AOS: Hagens Berman Reminds Investors of Class Actions on Behalf of Shareholders
5
CLASS ACTION REMINDERS for CLDR, TUSK and RMED: Hagens Berman Reminds Investors of Class Actions on Behalf of Shareholders

Related stock quotes

Akorn Inc 4,710 5.1% Stock price increasing

Latest news


Copyright Berlingske Media 2019  Cookie- and Privacy policy  |  Cookies  |   General terms of trade  |   Terms of use and IP rights
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
19 June 2019 18:42:43
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20190527.1 - EUROWEB3 - 2019-06-19 19:42:43 - 2019-06-19 18:42:43 - 1000 - Website: OKAY