National securities law firm Glancy
Prongay & Murray LLP (“GPM”) reminds investors of the June
25, 2018 deadline to file a lead plaintiff motion in the class
action filed on behalf of investors that purchased ACETO Corporation
(“ACETO” or the “Company”) (NASDAQ: ACET)
securities between February 1, 2018 and April 18, 2018, inclusive
(the “Class Period”).
If you are a shareholder who suffered a loss, click here
Investors suffering losses on their ACETO investments are encouraged to
contact Lesley Portnoy of GPM to discuss their legal rights in this
class action at 310-201-9150 or by email to email@example.com.
The Complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and misleading statements
regarding the Company’s business, operational and compliance policies.
Specifically, Defendants made false and/or misleading statements and/or
failed to disclose that: (i) due to undisclosed competitive and pricing
pressures, ACETO was unlikely to meet the performance metrics the
Company provided to its investors as financial guidance; (ii)
accordingly, ACETO’s financial guidance was overstated; and (iii) as a
result of the foregoing, ACETO’s financial statements and Defendants’
statements about ACETO’s business, operations, and prospects, were
materially false and misleading at all relevant times.
On April 18, 2018, ACETO issued a press release announcing that its
financial guidance should no longer be relied upon, that the Company
anticipates recording non-cash intangible asset impairment charges in
the range of $230 million to $260 million, and that Edward Borkowski
resigned as the Company’s CFO.
On this news, ACETO’s share price fell $4.74 per share, or 64%, to close
at $2.66 per share on April 19, 2018, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased shares ACETO during the Class Period you may move the
Court no later than June 25, 2018 to ask the Court to appoint you
as lead. To be a member of the Class you need not take any action at
this time; you may retain counsel of your choice or take no action and
remain an absent member of the Class. If you wish to learn more about
this action, or if you have any questions concerning this announcement
or your rights or interests with respect to these matters, please
contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite
2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at
888-773-9224, by email to firstname.lastname@example.org,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180618006192/en/