San Diego, CA -- (SBWire) -- 05/23/2023 --Certain directors of Catalent, Inc are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long term investors in Catalent, Inc. (NYSE: CTLT) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: CTLT stocks follows a lawsuit filed against Catalent, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: CTLT stocks, concerns whether certain Catalent, Inc. directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the District of New Jersey the plaintiff alleges that statements made by the defendants were materially false and misleading when made because they misrepresented or failed to disclose the following adverse facts, which were known to Defendants or recklessly disregarded by them: (a) Catalent materially overstated its revenue and earnings by prematurely recognizing revenue in violation of U.S. Generally Accepted Accounting Principles ("GAAP"); (b) Catalent had material weaknesses in its internal control over financial reporting related to revenue recognition; (c) Catalent falsely represented demand for its products while it knowingly sold more product to its direct customers than could be sold to healthcare providers and end consumers; (d) Catalent disregarded regulatory rules at key production facilities in order to rapidly produce excess inventory that was used to pad the Company's financial results through premature revenue recognition in violation of GAAP and/or stuffing its direct customers with this excess inventory; and (e) as a result of the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company's financial performance, outlook, and regulatory compliance between August 30, 2021 and October 31, 2022.
Those who purchased shares of Catalent, Inc. (NYSE: CTLT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NYSE:CTLT Investor Notice: Investigation Announced over Potential Wrongdoing at Catalent, Inc.
An investigation on behalf of current long term investors in Catalent, Inc. (NYSE:CTLT) shares over possible breaches of fiduciary duty by certain officers and directors was announced.