Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Akorn, Inc.
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.
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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.
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
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