(MENAFN- Newsfile Corp) CTLT LAWSUIT ALERT: Levi & Korsinsky Notifies Catalent, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline
New York, New York--(Newsfile Corp. - March 27, 2023) - Levi & Korsinsky, LLP notifies investors in Catalent, Inc. ("Catalent" or the "Company") (NYSE: CTLT) of a class action securities lawsuit.
The lawsuit on behalf of Catalent investors has been commenced in the the United States District Court for the District of New Jersey. Affected investors purchased or otherwise acquired certain Catalent, Inc. securities between August 30, 2021 and October 31, 2022 . Follow the link below to get more information and be contacted by a member of our team:
or contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500. There is no cost or obligation to you.
Catalent, Inc. NEWS - CTLT NEWS
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: a) Catalent materially overstated its revenue and earnings by prematurely recognizing revenue in violation of U.S. Generally Accepted Accounting Principles ("GAAP"); b) Catalent had material weaknesses in its internal control over financial reporting related to revenue recognition; c) Catalent falsely represented demand for its products while it knowingly sold more product to its direct customers than could be sold to healthcare providers and end consumers; d) Catalent disregarded regulatory rules at key production facilities in order to rapidly produce excess inventory that was used to pad the Company's financial results through premature revenue recognition in violation of GAAP and/or stuffing its direct customers with this excess inventory; and e) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company's financial performance, outlook, and regulatory compliance during the class period.
WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Catalent during the relevant timeframe, you have until April 25, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. Discuss your rights with our legal team without cost or obligation.
PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form or call 212-363-7500 to discuss the case.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
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