NEW YORK, Feb. 26, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Akorn, Inc. (NASDAQ: AKRX) from August 1, 2018 through January 8, 2019, inclusive. The lawsuit seeks to recover damages for Akorn investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than April 25, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, http://zhanginvestorlaw.com/join-action-form/?slug=akorn-inc&id=1747 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email info@zhanginvestorlaw.com, slee@zhanginvestorlaw.com for information on the class action.
According to the lawsuit, 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 Food and Drug Administration’s (“FDA”) 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
Zhang Investor Law represents investors worldwide.
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