Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Akorn, Inc.
Oklahoma City, OK (March 6, 2015) – On March 4, 2015, a securities class action lawsuit was filed in the United States District Court for the Northern District of Illinois against Akorn, Inc. (NASDAQ: AKRX). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is April 17, 2014 through March 2, 2015. More specifically, this litigation was filed because on March 2, 2015, the Company issued a press release announcing that it would need an extension to file its annual report for the year ending December 31, 2014 because it “experienced unforeseen delays in collecting and compiling certain financial and other related data that would be included in the Form 10-K relating to the VersaPharm and Hi-Tech Pharmacal subsidiaries which were not integrated into the Company’s centralized accounting department and accounting systems as of December 31, 2014.” On this news, shares of Akorn, Inc. declined.
Plaintiff seeks to recover damages on behalf of all Akorn, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, May 4, 2015 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to email@example.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.
Posted on Fri, March 6, 2015
by Robin Hester filed under