A lawsuit was filed on behalf of investors in Akorn, Inc. (NASDAQ: AKRX) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 03/07/2019 -- An investor, who purchased shares of Akorn, Inc. (NASDAQ: AKRX), filed a lawsuit over alleged violations of Federal Securities Laws by Akorn, Inc.
Investors who purchased shares of Akorn, Inc. (NASDAQ: AKRX) have certain options and for certain investors are short and strict deadlines running. Deadline: April 22, 2019. NASDAQ: AKRX investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Lake Forest, IL based Akorn, Inc., a specialty generic pharmaceutical company, develops, manufactures, and markets generic and branded prescription pharmaceuticals, over-the-counter (OTC) consumer health products, and animal health pharmaceuticals in the United States and internationally. On January 9, 2019, Akorn, Inc. disclosed that it had received a warning letter from the U.S. Food and Drug Administration following an inspection of Akorn's Decatur, Illinois manufacturing facility. This inspection revealed that contrary to Akorn's representations to shareholders, Akorn had failed to comply with multiple federal regulations pertaining to drug manufacturing.
Shares of Akorn, Inc. (NASDAQ: AKRX) closed on February 7, 2019 at $4.31 per share.
The plaintiff claims that between August 1, 2018 and January 8, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Akorn's management misled investors concerning the severity of Akorn's manufacturing violations at its Decatur, Illinois facility, that Akorn's responses to the Food and Drug Administration's ("FDA") 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, that Akorn repeatedly failed to correct manufacturing violations at this facility, that the foregoing would subject Akorn to heightened regulatory scrutiny by the FDA, and that as a result, Akorn's public statements were materially false and misleading at all relevant times
Those who purchased shares of Akorn, Inc. (NASDAQ: AKRX) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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