Energy News / Shareholders Foundation, Inc.

NYSE: LCI Shareholder Notice: Deadline on October 26, 2018 Upcoming in Lawsuit Against Lannett Company, Inc.

Via: ReleaseWire

Updated 12:15 PM CDT, Mon, October 15,2018

A Deadline is coming up on October 26, 2018 in the lawsuit for investors in Lannett Company, Inc. (NYSE: LCI) and NYSE: LCI stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 10/15/2018 -- The Shareholders Foundation announces that a deadline is coming up on October 26, 2018 in the lawsuit filed for certain investors of Lannett Company, Inc. (NYSE: LCI) over alleged securities laws violations by Lannett Company, Inc.

Investors who purchased shares of Lannett Company, Inc. (NYSE: LCI) have certain options and there are strict and short deadlines running. Deadline: October 26, 2018. NYSE: LCI stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the the U.S. District Court for the Eastern District of Pennsylvania the plaintiff alleges on behalf of purchasers of Lannett Company, Inc. (NYSE: LCI) common shares between February 7, 2018 and August 17, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 7, 2018 and August 17, 2018, the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose that Lannett faced a substantial risk of the loss of its exclusivity agreement with JSP, that accordingly, Lannett's reported revenues were unsustainable, and that as a result, Lannett's public statements were materially false and misleading at all relevant times.

Lannett Company, Inc. has had an exclusivity agreement with its primary supplier, Jerome Stevens Pharmaceuticals, owned and operated by the Steinlauf family, set to expire on March 23, 2019

On August 20, 2018, prior to market open, Lannett Company, Inc announced that its distribution agreement with Jerome Stevens Pharmaceuticals will not be renewed upon its expiration in March 2019. Lannett stated that it "intend[ed] to redouble our continuing efforts to explore options for addressing our capital structure."

Those who purchased shares of Lannett Company, Inc. (NYSE: LCI) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The 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.

For more information on this press release visit:
http://www.sbwire.com/press-releases/nyse-lci-shareholder-notice-deadline-on-october-26-2018-upcoming-in-lawsuit-against-lannett-company-inc-1064619.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com