Catalent, Inc. (NYSE: CTLT)
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 25, 2023 to file lead plaintiff applications in a securities class action lawsuit against Catalent, Inc. (the “Company”) (NYSE: CTLT).
Catalent and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 1, 2022, the Company reported its financial results for 1Q2023 ending September 30, 2022, disclosing that its earnings had fallen to zero, a slashed fiscal year 2023 revenue guidance from $4.975B to $5.225B to the range of $4.625B to $4.875B, and that it was anticipating “negative P&L [profit and loss] effects,” due to regulatory issues.
On this news, shares of Catalent plummeted by 31.7% over two trading sessions, to close at $44.90 per share on November 2, 2022.
The case is City of Warwick Retirement System v. Catalent, Inc., No. 3:23-cv-1108.