NEW YORK, March 28, 2023 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Catalent, Inc. (NYSE: CTLT) alleging that the Company violated federal securities laws.
Class Period: August 30, 2021 to October 31, 2022
Lead Plaintiff Deadline: April 25, 2023
No obligation or cost to you.
Learn more about your recoverable losses in CTLT:
https://www.kleinstocklaw.com/pslra-1/catalent-inc-class-action-submission-form?id=37686&from=4
Catalent, Inc. NEWS - CTLT NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Catalent, Inc. made materially false and/or misleading statements and/or failed to disclose 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 YOU AS A SHAREHOLDER: If you have suffered a loss in Catalent you have until April 25, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Catalent securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the CTLT lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/catalent-inc-class-action-submission-form?id=37686&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm
