Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of New Jersey on behalf of shareholders of Catalent, Inc. who purchased shares between August 30, 2021 and October 31, 2022.
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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until April 25, 2023 to request that the court appoint them lead plaintiff.