SAN FRANCISCO, CA – (March 13, 2023) – National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP recommends that investors in Catalent, Inc. (“Catalent” or the “Company”) who suffered losses from purchasing or otherwise acquiring Catalent securities (NYSE: CTLT) between August 30, 2021 and October 31, 2022 contact our attorneys immediately regarding pending securities fraud class action against Catalent. The deadline to apply to be a lead plaintiff is April 25, 2023.
Class Period: August 30, 2021 – October 31, 2022
Lead Plaintiff Motion Deadline: April 25, 2023
Case information: lieffcabraser.com/securities/catalent
Contact us: Email or text firstname.lastname@example.org or call 1-800-541-7358
The securities class action alleges that, throughout the Class Period, Catalent and certain of its senior executives and directors made materially false and misleading statements and failed to disclose that: (1) Catalent was overstating its revenues and demand for its COVID-19 manufacturing services; and (2) there were numerous operational and safety issues at Catalent’s Bloomington plant that led the FDA to hold back 10 million doses of Moderna’s COVID-19 vaccine that were filled and packaged at the plant.
Investors began to learn of defendants’ fraud on August 29, 2022, when Catalent disclosed below-projection sales. On this news, Catalent’s share price fell $7.42, or 7.4%, to close at $92.28 on August 30, 2022.
On September 21, 2022, news reports revealed that the FDA had been aware of “potential safety concerns at the Catalent plant in late August” causing the agency to hold back “more than 10 million doses” of Moderna’s COVID-19 vaccine. In response to this news, Catalent’s share price fell $8.09, or 9.3%, across two trading days to close at $79.06 on September 22, 2022.
On November 1, 2022, Catelent’s quarterly report further revealed defendants’ fraud by disclosing that the company’s earnings had fallen to zero and downgrading Catalent’s FY2023 revenue guidance by $300 million. In response to this news, Catalent’s share price fell $20.83, or 31.7%, across two trading days to close at $44.90 on November 2, 2022.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 120 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $127 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.
Lieff Cabraser Heimann & Bernstein, LLP
Use the form below to contact a lawyer at Lieff Cabraser.