NEW
YORK, March 17, 2023 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of Catalent, Inc. (NYSE:
CTLT).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/catalent-inc-loss-submission-form/?id=37360&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Catalent between August 30,
2021 and October 31, 2022.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
April 25, 2023 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, Catalent, Inc. issued materially
false and/or misleading statements and/or failed to disclose that:
a) Catalent materially overstated its revenue and earnings by
prematurely recognizing revenue in violation of U.S. Generally
Accepted Accounting Principles ("GAAP"); b) Catalent had material
weaknesses in its internal control over financial reporting related
to revenue recognition; c) 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; d) 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 e) as a result
of the foregoing, defendants lacked a reasonable basis for their
positive statements about the Company's financial performance,
outlook, and regulatory compliance during the class period.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law