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
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
Read On "Benzinga"
"Violet Defense technology powers a wide array of products that can provide a customizable solution for virtually any facility, from conference centers and schools to hotels and hospitals," said David Scalzo, CEO of Violet Defense. Violet Defense provides trusted and efficient UV disinfection solutions that are sustainable, cost-effective, and protect the places you live, learn, work, and play. Media Contact for Violet Defense:Jessica JonesVice President of Marketing407.433.1104, [email protected] Information:Maria [email protected] ImagesImage 1: Violet Defense and AdvisorEngineViolet Defense installed Xenon UV disinfection solutions in the AdvisorEngine office spaces. Image 2: Violet Defense and AdvisorEngineViolet Defense installed Xenon UV disinfection solutions in the shared bathrooms. Image 3: Violet Defense and AdvisorEngineViolet Defense installed Xenon UV disinfection solutions in the AdvisorEngine office spaces.28 days ago Benzinga
Global law firm Greenberg Traurig, LLP was recognized as the Americas Law Firm of the Year by the Global M&A Network. NEW YORK, Feb. 27, 2023 /PRNewswire-PRWeb/ -- Global law firm Greenberg Traurig, LLP was recognized as the Americas Law Firm of the Year by the Global M&A Network. "It's an honor to be cited as Americas Law Firm of the Year by the Global M&A Network. About Greenberg Traurig: Greenberg Traurig, LLP has more than 2650 attorneys in 44 locations in the United States, Europe, Latin America, Asia, and the Middle East. Media ContactElaine Walker, Greenberg Traurig, LLP, 3055790832, [email protected] Greenberg Traurig, LLP28 days ago Benzinga
CLIFTON, N.J., Feb. 27, 2023 /PRNewswire/ -- ClassLink celebrated the exceptional achievements of schools and individuals last week at its annual conference, CLON 2023. Celebrating outstanding schools is at the heart of the Awards of Excellence. We recognize school systems for their commendable use of ClassLink in four key areas: implementation, growth, engagement, and analytics. Iconic Instructor AwardWinner: Heather Ertzberger (NC Virtual Public Schools, NC)(NC Virtual Public Schools, NC) This award recognizes instructors who demonstrate exceptional creative instruction. Visionary Leader AwardWinner: J.J. Lewis (Compass Charter Schools, CA)This award recognizes administrators who are making groundbreaking educational contributions.28 days ago Benzinga
This milestone comes a few days after Doroni announced the successful completion of tethered flight tests with the H1 prototype; and yaw, pitch, and roll testing several days prior to that. ABOUT DORONI AEROSPACEDoroni Aerospace was founded in 2016 by serial entrepreneur Doron Merdinger. Doroni's mission is to democratize the power of flight by delivering transformative electric vertical takeoff and landing (eVTOL) technology directly to consumers. Doroni Aerospace recently relocated operations to a 13,000 square R&D facility in Pompano Beach, FL, where the company expects to complete prototype testing and development. To learn more about Doroni Aerospace, please visit www.doroni.io or email us at [email protected] us on social media:Facebook: @Doroni.eVTOL | Instagram: @doroniaerospace | Twitter: @Doroni1For investment opportunities, please visit us at: www.startengine.com/doroni-aerospace28 days ago Benzinga
D&H experienced triple-digit performance in several of these categories last year, including 102% sales growth in Modern Applications and Cloud Services; plus 264% growth of D&H's new managed services offering, under its Professional Services portfolio. The MSP-inspired D&H Cloud Marketplace powers a robust portfolio of Cisco cloud solutions. Expansion of SuccessPath Program: D&H's popular SuccessPath technical training and business transformation offering has branched out to address the company's greater Modern Solutions portfolio. What began as "SuccessPath to Cloud" has spawned parallel programs in other strategic areas including Modern Security, Modern Collaboration, Modern Infrastructure, and Modern Applications and Devices. For example: Partnerfi members have experienced an uptick in cloud solutions sales of 210% since the program's launch in January of 2022.28 days ago Benzinga
Cerritos, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Cerritos, California -Insta Graphic Systems, based in Cerritos, CA, recently showcased its sublimation heat press machines at the 2023 United Soccer Coaches Convention. Insta Graphic Systems has been pioneering and helping customers adopt new technologies in the 60 years since it first opened its doors. Our heat press machines can also recover heat much more efficiently than other machines you may have used in the past. Insta Graphic Systems can similarly be reached via Instagram, Facebook, Twitter. Recent News: Insta Graphic Systems to Showcase Heat Press Machines at the 2023 United Soccer Coaches Conventionhttps://www.youtube.com/watch?v=kqtZZD1Mnv8###For more information about Insta Graphic Systems, contact the company here:Insta Graphic SystemsMedia Relations(562) [email protected]://www.instagraph.com/13925 E. 166th StreetCerritos, CA 90703-2431Media Relations28 days ago Benzinga
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