HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Catalent (CTLT) Investors with Substantial Losses to Contact Firm's Attorneys, Securities Fraud Class Action Filed - Catalent (NYSE:CTLT)

28 days ago Benzinga

SAN FRANCISCO, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges Catalent, Inc. CTLT investors who suffered substantial losses submit your losses now.

Class Period: Aug. 30, 2021– Oct. 31, 2022
Lead Plaintiff Deadline: Apr. 25, 2023
Visit: https://www.hbsslaw.com/investor-fraud/CTLT
Contact An Attorney Now: [email protected]

Catalent, Inc. (CTLT) Securities Fraud Class Action:

The litigation focuses on Catalent's repeated claims that its drug product development and manufacturing were done under rigorous quality and operational standards, that its vaccines for COVID would be a sustaining and enduring source of revenue, and that its financial statements complied with Generally Accepted Accounting Principles ("GAAP").

According to the complaint, Defendants made misleading statements and failed to disclose that Catalent: (1) materially overstated its revenue and earnings by prematurely recognizing revenue in violation of GAAP; (2) had material weaknesses in its internal control over financial reporting related to revenue recognition; (3) falsely represented demand for its products while knowingly selling more products to its direct customers than could be sold to healthcare providers and end consumers; and (4) disregarded regulatory rules at key production facilities in order to rapidly produce excess inventory that was used to pad its financial results through premature revenue recognition in violation of GAAP and/or channel stuffing its direct customers with this excess inventory.

Investors began to learn the truth through a series of partial disclosures beginning on Aug. 29, 2022, when Catalent revealed that demand for its COVID-related products was facing substantial headwinds.

Then, on Sept. 20, 2022, the Washington Post reported that the release of Catalent's COVID-19 vaccines had been delayed by regulators because of improper sterilization at one of the company's key facilities.

Finally, on Nov. 1, 2022, Catalent announced that its quarterly earnings had fallen to $0, slashed its financial guidance, and revealed that regulatory issues at its key facilities were negatively impacting financial results.

In response to these events, the price of Catalent shares has traded sharply lower.

"We're focused on investors' losses and proving Catalent cooked its books," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Catalent and have substantial losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Catalent should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected]

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Reed Kathrein, 844-916-0895

Continue reading...

Read On "Benzinga"
More News On "Benzinga"
Arizent, the parent company of American Banker, National Mortgage News, Financial Planning and Digital Insurance, publishes its 2023 Tech Priorities research report

A new research report from Arizent, the parent company of American Banker, National Mortgage News, Financial Planning and Digital Insurance, explores how the financial services industry is prioritizing near-term technological investments. "Over the next two years, maintaining regulatory compliance and enhancing cybersecurity are top priorities," Janet King, Vice President of Arizent Research, says. The full research report can be downloaded here:American Banker: https://www.americanbanker.com/research-report/is-your-tech-agenda-set-for-safety-or-standout-growthNational Mortgage News: https://www.nationalmortgagenews.com/research-report/is-your-tech-agenda-set-for-safety-or-standout-growthFinancial Planning: https://www.financial-planning.com/research-report/is-your-tech-agenda-set-for-safety-or-standout-growthDigital Insurance: https://www.dig-in.com/research-report/is-your-tech-agenda-set-for-safety-or-standout-growthResearch background/MethodologyThis online research was conducted in December 2022 with 525 qualified respondents across financial services. These peer-based perspectives include 164 banking participants, 191 wealth management participants, 83 from insurance and 87 from mortgage firms. Arizent also connects business communities through leading financial services brands like American Banker, The Bond Buyer, Financial Planning and National Mortgage News, as well as professional services brands like Accounting Today, Employee Benefit News and Digital Insurance.

28 days ago Benzinga
25 days ago - Wayne Shorter, jazz legend and N.J. native, dead at 89 25 days ago - What to make of Grant Williams’ surprising DNP in Celtics-Cavs matchup 25 days ago - Grading the Canucks’ Trade for Filip Hronek 28 days ago - McGhee's dramatic buzzer beater lifts Dragons into NSIC championship game 28 days ago - Buster Posey has heartfelt Scott Cousins message 12 years after collision 28 days ago - Ravi Shastri Settles Shubman Gill vs KL Rahul Debate With A Blunt Verdict 28 days ago - AMA vs KOT Dream11 Prediction, Fantasy Cricket Tips, Dream11 Team, Playing XI, Pitch Report, Injury Update- Navi Mumbai Premier League T20, Match 2 28 days ago - Murdoch admits some Fox News hosts 'endorsed' false election fraud claims 28 days ago - LaMelo Ball breaks ankle, latest setback in rough season 28 days ago - Ball fractures ankle in Hornets’ 117-106 win over Pistons 28 days ago - Avalanche examining trade market — The Fourth Period 28 days ago - Knicks deliver statement with stifling win over NBA-best Celtics 28 days ago - Who are Jimmy and Dee Haslam, reported new Milwaukee Bucks co-owners? 28 days ago - Celtics vs. Knicks takeaways: C's go ice-cold from 3 in frustrating loss 28 days ago - UNC Basketball: Photos from win at Florida State 28 days ago - Butler's acrobatic layup, 23 points lead Heat past 76ers :: WRALSportsFan.com 28 days ago - NBA roundup: LaMelo Ball breaks ankle in Charlotte’s win over Detroit 28 days ago - Murdoch says some Fox hosts ‘endorsed’ false election claims 28 days ago - Drunk flyers getting unruly led to tighter rules: AI CEO 28 days ago - UNC Men’s Basketball Holds Off Florida State Rally, Wins Final Road Game 28 days ago - UCLA Set to Host LMU, Michigan in Midweek Battles 28 days ago - Minus Timo Meier, Sharks host new-look Canadiens 28 days ago - Elon Musk Reclaims Top Spot on Billionaires List 28 days ago - No. 9 UConn still standing ... barely ... as sole regular-season champion of Big East 28 days ago - Breaking new ground, video game engages with Holocaust 28 days ago - John Oliver Goes After SF-Based OpenAI and Its ChatGPT Product: ‘The George Santos of Technology’ 28 days ago - HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Catalent (CTLT) Investors with Substantial Losses to Contact Firm's Attorneys, Securities Fraud Class Action Filed - Catalent (NYSE:CTLT) 28 days ago - Florida State fights hard on Senior Night, but this time the comeback bid falls short 28 days ago - How do you talk to a whole country about COVID-19? Use a GIF. 28 days ago - 1 killed as tornadoes rip through Oklahoma, California braces for more snow 28 days ago - Austin Police Department staffing crisis: 77 officers could retire by end of March as vacancies pile up 28 days ago - Alec Baldwin sued by three Rust crew members who suffer from anxiety PTSD and have blast injuries 28 days ago - Assessment Covid-19 leaked from Chinese lab is a minority view within US intel community, sources say 28 days ago - Quinta Brunson, Kevin Jay Anik’s Relationship Timeline 28 days ago - Sydney World Pride: Here’s what you need to know ahead of Harbour Bridge closure on March 5. 28 days ago - Reddit Has a Must Read Thread About The Worst Things People Have Seen at Disney World 28 days ago - Courteney Cox snubbed by ‘Friends’ at Walk of Fame star ceremony? 28 days ago - No. 1 CSI draws Snow College in Region 18 opener: 'It'll be a hard game' 28 days ago - Rochester organization working to prevent adverse childhood experiences 28 days ago - ‘Friends’ star Courteney Cox didn’t think Hollywood success was ‘possibility’ growing up in Alabama 28 days ago - Winds shred Southern Plains; California set to get more snow 28 days ago - Robbins: Zelenskyy & Navalny heroes for standing up to Putin 28 days ago - An Arizona driver was charged after plowing into cyclists, killing 2 and injuring 17 28 days ago - DeSantis clemency only option for ex-death row inmate after Supreme Court denial 28 days ago - Rupert Murdoch admits some Fox News hosts 'endorsed' false election fraud claims 28 days ago - Nolan Gould: What Happened To The Modern Family Star? 28 days ago - Chip 4 Alliance: Senior officials finally meet to discuss semiconductor supply chain 28 days ago - Zero-calorie sweetener linked to heart attack and stroke, study finds 28 days ago - ‘American Idol’ Alum Adam Lambert Made a Lana Del Rey Song Sound Like Led Zeppelin on His New Album 28 days ago - Student Association meets with Micron to potentially develop a partnership 28 days ago - Hornets vs Pistons: How to Watch Live Stream, TV Channel, NBA Start Time 28 days ago - ‘Hoping for a miracle’: Fundraiser for family of Angus man seriously injured at Collingwood-area work site raises more than $31K 28 days ago - Disney World’s Self-Governing District Now Under State Control 28 days ago - JD Vance, Sherrod Brown demand EPA, CDC start health screenings in East Palestine after train derailment 28 days ago - UConn women's basketball guard Nika Mühl surpasses Sue Bird's single-season assist record 28 days ago - Messi, Putellas headline FIFA Best award winners as Kerr makes World XI 28 days ago - Florida Governor Strips Disney of Special District Control 28 days ago - DeSantis signs bill that gives him more control of Disney’s special district 28 days ago - Chicago Bulls vs. Toronto Raptors – 2/28/23 Free Pick & NBA Betting Prediction 28 days ago - Maple Leafs answer Lightning by making trade with Blackhawks
free geoip