Faruqi and Faruqui, LLP Logo
Share this page

Akorn, Inc. (AKRX)

NASDAQ:AKRX

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Akorn, Inc.To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Akorn, Inc. (“Akorn” or the “Company”) (NASDAQ:AKRX) of the May 7, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Akorn stock or options between March 1, 2017 and February 26, 2018 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the Northern District of Illinois on behalf of all those who purchased Akorn securities between March 1, 2017 and February 26, 2018 (the “Class Period”).  The case, Joshi Living Trust v. Akorn, Inc. et al, No. 1:18-cv-01713 was filed on March 8, 2018 and has been assigned to Judge Matthew F. Kennelly.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Akorn’s failure to comply with U.S. Food and Drug Administration (“FDA”) data integrity requirements would jeopardize Fresenius SE & Co. KGaA’s (“Fresenius”) acquisition of Akorn; (2) the Company lacked effective internal controls over financial reporting; and (3) as a result, the Company’s financial statements were materially false and misleading.

Specifically, on February 26, 2018, Fresenius announced it is investigating alleged breaches of FDA data integrity requirements at Akorn. Fresenius also stated that consummation of the transaction may be affected if the closing conditions under the merger agreement are not met.

After the announcement, Akorn’s share price fell from $30.28 per share on February 26, 2018 to a closing price of $18.65 on February 27, 2018—a $11.63 or a 38.41% drop.

Contact Us

To contact Faruqi & Faruqi, LLP please call (877) 247-4292 or (212) 983-9330, or please
fill out the form below and a Firm representative will contact you.

  • Case:
    Akorn, Inc. (AKRX)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 03/01/2018

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.