Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, April 20, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Catalent, Inc (“Catalent” or “the Company”) (NYSE: CTLT) investors that a lawsuit filed on behalf of investors that purchased Catalent securities (NYSE: CTLT) between August 30, 2021 to October 31, 2022 (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
According to the complaint, the Defendants are accused of making false and misleading statements or failing to disclose crucial information during the class period. The alleged misconduct includes: a) Catalent overstating its revenue and earnings by recognizing revenue before it was due under GAAP; b) Catalent having significant weaknesses in its internal control over financial reporting with respect to revenue recognition; c) Catalent misleadingly portraying the demand for its products while knowingly selling more products to its direct customers than could be sold to healthcare providers and end consumers; d) Catalent breaching regulatory rules at key production facilities in order to produce excess inventory that was used to inflate the company's financial results by prematurely recognizing revenue or providing it to direct customers; and e) as a result of the above, the defendants did not have a sound basis for their optimistic statements about the company's financial performance, outlook, and regulatory compliance during the class period.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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