This lawsuit is for anyone who acquired securities in Catalent, Inc. (NYSE: CTLT) from August 30, 2021 through October 31, 2022.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by falling to timely tell investors that the Company was experiencing a material decline in demand for its COVID related products and then by engaging in channel stuffing to overstate revenue to cover up the fact the the Company was experiencing a decline for its products. The Company compounded its misrepresentations by stating that it could manufacture its products safely but then by manufacturing its products in an unsafe manner for the purpose of creating enough product to use to stuff the Company's distribution channels.
On August 29, 2022, Catalent disclosed that demand for its COVID-related products was facing substantial headwinds. On this news, the price of the Company's stock dropped precipitously on unusually heavy trading volume. Then, on September 20, 2022, The Washington Post reported that the release of Catalent’s COVID vaccines had been delayed due to improper sterilization at one of the Company’s key facilities. On this news, the price of the Company's stock again dropped precipitously on unusually heavy trading volume. Finally, on November 1, 2022, Catalent disclosed regulatory issues at its key facilities that were negatively impacting its financial results, revealing that the Company’s quarterly earnings had declined to zero. On this news, the price of the Company's stock again dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Catalent, Inc. (NYSE: CTLT) from August 30, 2021 through October 31, 2022 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Case Summary
Join the Class Action
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
Terms:
correct statements.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.
