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CATALENT SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Catalent, Inc. - CTLT
News provided byKahn Swick & Foti, LLC
Mar 17, 2023, 10:50 PM ET
NEW ORLEANS, March 17, 2023 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 25, 2023 to file lead plaintiff applications in a securities class action lawsuit against Catalent, Inc. (the "Company") (NYSE: CTLT), if they purchased the Company's securities between August 30, 2021 and October 31, 2022, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of New Jersey.
What You May Do
If you purchased securities of Catalent and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-ctlt/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 25, 2023.
About the Lawsuit
Catalent and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 1, 2022, the Company reported its financial results for 1Q2023 ending September 30, 2022, disclosing that its earnings had fallen to zero, a slashed fiscal year 2023 revenue guidance from $4.975B to $5.225B to the range of $4.625B to $4.875B, and that it was anticipating "negative P&L [profit and loss] effects," due to regulatory issues.
On this news, shares of Catalent plummeted by 31.7% over two trading sessions, to close at $44.90 per share on November 2, 2022.
The case is City of Warwick Retirement System v. Catalent, Inc., No. 23-cv-1108.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 960
New Orleans, LA 70163
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SOURCE Kahn Swick & Foti, LLC