Abraham, Fruchter & Twersky, LLP Announce a Class Action Lawsuit Settlement For All Persons and Entities Who Purchased or Acquired the Publicly Traded Common Stock of Lannett Company, Inc.

NEW YORK, Jan. 5, 2026 /PRNewswire/ --

IN THE UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF PENNSYLVANIA

TO:  All persons and entities who purchased or acquired the publicly traded common stock of Lannett Company, Inc. during the period from July 15, 2014 and October 31, 2017, inclusive, and who were damaged thereby (the "Settlement Class"):¹

PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS MAY BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Eastern District of Pennsylvania (the "Court"), that the above-captioned litigation (the "Action") is pending in the Court.

YOU ARE ALSO NOTIFIED that the plaintiffs in this Action, University of Puerto Rico Retirement System and Ironworkers Locals 40, 361 & 417 Union Security Funds (together, "Plaintiffs"), have reached a proposed settlement of the Action for $5,750,000 in cash on behalf of the Settlement Class, that, if approved, will resolve all claims in the Action.

A hearing will be held on April 16, 2026 at 12:30 p.m. Eastern Time, before the Honorable Wendy Beetlestone, either in person at the James A. Byrne United States Courthouse, 601 Market Street, Courtroom 10-A, Philadelphia, PA 19106, or by telephone or videoconference (at the discretion of the Court).  At the hearing, the Court will determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Amended Stipulation of Settlement dated December 4, 2025 (and in the Long Notice) should be granted; (iii)  whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Plaintiffs' Counsel's application for an award of attorneys' fees not to exceed one-third of the Settlement Amount, after the deduction of Court-awarded litigation expenses, and for payment of their expenses in an amount not to exceed $1,375,000, plus interest on such fees and expenses at the same rate as may be earned by the Settlement Fund, and awards to Plaintiffs that in the aggregate will not exceed $30,000, should be approved.

If you are a member of the Settlement Class (a "Settlement Class Member"), your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund.  If you have not yet received the Long Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator, A.B. Data, at Utesch v. Lannett Company, Inc., et al., c/o A.B. Data, P.O. Box 173112, Milwaukee, WI 53217, 1-877-316-0186.  Copies of the Long Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator at www.LannettSecuritiesSettlement.com.

If you are a Settlement Class Member, to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked (if mailed), or online, no later than April 2, 2026, in accordance with the instructions set forth in the Claim Form.  If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any releases, judgments, or orders entered by the Court in the Action.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is postmarked no later than March 13, 2026, in accordance with the instructions set forth in the Long Notice.  If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation, Plaintiffs' Counsel's Fee and Expense Application, or any application for awards to Plaintiffs, must be filed with the Court, with copies of such materials served on Class Counsel and Defendants' Counsel, no later than March 13, 2026, in accordance with the instructions set forth in the Long Notice.

Please do not contact the Court, the Clerk's office, Defendants, or their counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Class Counsel or the Claims Administrator.

Inquiries, other than requests for the Long Notice and Claim Form, should be made to the below Class Counsel:

ABRAHAM, FRUCHTER & TWERSKY, LLP
Mitchell M.Z. Twersky, Esq.
Lawrence D. Levit, Esq.
450 Seventh Avenue, 38th Floor
New York, NY 10123
Tel: (212) 279-5050
[email protected]
[email protected]

Requests for the Long Notice and Claim Form should be made to:

Utesch v. Lannett Company, Inc., et al.
c/o A.B. Data
P.O. Box 173112
Milwaukee, WI  53217
1-877-316-0186
www.LannettSecuritiesSettlement.com 

By Order of the Court

___________________________

¹ Certain persons and entities are excluded from the Settlement Class by definition, as set forth in the Notice of (i) Pendency of Class Action and Proposed Settlement; (ii) Settlement Hearing; and (iii) Motion for an Attorneys' Fees and Litigation Expenses (the "Long Notice"), a copy of which may be downloaded from the settlement website maintained by the Claims Administrator at www.LannettSecuritiesSettlement.com.

SOURCE Abraham, Fruchter & Twersky, LLP