CTLT Investors Have Opportunity to Lead Catalent, Inc. Securities Fraud Lawsuit

CTLT Investors Have Opportunity to Lead Catalent, Inc. Securities Fraud Lawsuit

PR Newswire

BENSALEM, Pa., April 19, 2023

Shareholders with losses exceeding $50,000 are encouraged to contact the firm. 

BENSALEM, Pa., April 19, 2023 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Catalent, Inc. ("Catalent" or the "Company") (NYSE: CTLT).

Class Period: August 30, 2021 – October 31, 2022
Lead Plaintiff Deadline: April 25, 2023

Investors suffering losses on their Catalent investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Catalent materially overstated its revenue and earnings by prematurely recognizing revenue in violation of U.S. Generally Accepted Accounting Principles; (2) Catalent had material weaknesses in its internal control over financial reporting related to revenue recognition; (3) Catalent falsely represented demand for its products while it knowingly sold more product to its direct customers than could be sold to healthcare providers and end consumers; (4) Catalent disregarded regulatory rules at key production facilities in order to rapidly produce excess inventory that was used to pad the Company's financial results through premature revenue recognition in violation of GAAP and/or stuffing its direct customers with this excess inventory; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com

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SOURCE Law Offices of Howard G. Smith

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