Get Cash Back and $0 Commissions
+ The Power of TradeStation
Newsfile 17-Mar-2023 1:34 PM
New York, New York--(Newsfile Corp. - March 17, 2023) - Pomerantz LLP is investigating claims on behalf of investors of Catalent, Inc. ("Catalent" or the "Company") (NYSE:CTLT). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Catalent and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On August 29, 2022, Catalent disclosed that demand for its COVID-related products was facing substantial headwinds.
On this news, Catalent's stock price fell $7.42 per share, or 7.4%, to close at $92.29 per share on August 29, 2022.
Then, on September 20, 2022, a Washington Post report exposed that the release of COVID-19 vaccines produced by Catalent had been delayed by regulators due to improper sterilization at one of Catalent's key facilities.
On this news, Catalent's stock price fell $8.09 per share, or 9.3%, over the following two trading sessions, to close at $79.06 per share on September 22, 2022.
Finally, on November 1, 2022, Catalent revealed that its quarterly earnings had declined to zero and lowered its financial guidance, indicating falling demand. The Company also disclosed that regulatory issues at key facilities were negatively impacting its financial results.
On this news, Catalent's stock price fell $20.83 per share, or 31.7%, over the following two trading sessions, to close at $44.90 per share on November 2, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/158868