Akorn Inc


Case Summary
Company Name: Akorn Inc
Stock Symbol : NASDAQ: AKRX
Class Period Start: 03/01/2017
Class Period End: 02/26/2018
Lead Plaintiff motion: 05/07/2018
Date Filed: 03/08/2018
Type of Case: Securities Class Action
Court: U.S. District Court for the District of Illinois

Thieler Law Corp advises investors with losses exceeding $100,000 of the May 7, 2018 lead plaintiff deadline in a class action lawsuit filed against Akorn Inc (NASDAQ: AKRX) (“Akorn” or “the Company”). The suit is pending in the U.S. District Court for the District of Illinois and investors, who purchased Akorn Inc securities between March 1, 2017 and February 26, 2018, have until May 7, 2018 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Akorn Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that the Company’s failure to comply with FDA data integrity requirements would jeopardize Fresenius’s acquisition of the Company; the Company lacked effective internal controls over financial reporting; and as a result, the Company’s financial statements were materially false and misleading at all relevant times.

On February 26, 2018, Fresenius revealed that it is conducting an independent investigation, using external experts, into alleged breaches of U.S. Food and Drug Administration data integrity requirements relating to product development at Akorn.  Fresenisus stated that “[t]he consummation of the transaction may be affected if the closing conditions under the merger agreement are not met.” 

Following this news, NASDAQ: AKRX fell $11.63 per share or over 38% to close at $18.65 per share on February 27, 2018, damaging investors.

If you were negatively impacted by your investment in Akorn Inc securities between March 1, 2017 and February 26, 2018 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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