NEW YORK, March 12, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Lannett Company, Inc. ("Lannett" or the "Company") (NYSE: LCI). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Lannett and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 4, 2021, Lannett issued a press release announcing the Company's fiscal 2021 second-quarter financial results. Lannett reported a net loss of $171.95 million, or $4.36 per share, and updated its 2021 guidance to project net sales of $480 million to $500 million, down significantly from the previous range of $520 to $545 million.
On this news, Lannett's stock price fell $1.20 per share, or 16.04%, to close at $6.28 per share on February 4, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP