Shareholder Investigation of Lannett Company, Inc.
Lannett Company, Inc. (LCI) Accused of Misleading Investors About Its Risk of Losing Major Exclusivity Agreement
According to the recently filed class action complaint, Lannett Company, Inc. (LCI) has an exclusivity agreement with its primary supplier, Jerome Stevens Pharmaceuticals (“JSP”), which is set to expire on March 23, 2019. JSP’s products have historically accounted for at least one-third of Lannett’s sales. Lannett represented to investors that the company was focused on strengthening its relationship with JSP. It therefore came as a surprise to investors when, on August 20, 2018, Lannett announced that its distribution agreement with JSP would not be renewed. On this news, Lannett’s stock plummeted over 60% to close at $5.35 per share that day, and has yet to recover.
Lannett Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can please send us a message via the Shareholder Information form below.