AKORN ALERT: Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Potential Violations of Law By Certain Officers and Directors of Akorn, Inc.

SAN DIEGO--()--Shareholder Rights Law Firm Johnson & Weaver, LLP today announced that it is investigating the internal controls and financial reporting practices of Akorn, Inc. (NASDAQ: AKRX).

On April 24, 2015, Akorn disclosed that there were errors in its financial statements for the financial year ending December 31, 2014 and the quarters ending June 30 and September 30. This is the second such announcement in just a few weeks.

While the exact impact to the Company's financial statements has not been determined, based on management's preliminary assessment, the errors related to the understatements of rebates and other sales allowances are estimated to have resulted in an overstatement to net revenue and pretax income from continuing operations of $20 million to $35 million for the year ending December 31, 2014.

Shareholders with questions concerning their legal rights and options are encouraged to contact Johnson & Weaver’s securities’ analyst, Jim Baker (jimb@johnsonandweaver.com), at 619-814-4471. If you email, please include your phone number.

Additionally, anyone with non-public knowledge that would like to discuss their options to help in Johnson & Weaver’s investigation or that want to consider taking advantage of the SEC Whistleblower program may contact the firm as well. Under the new SEC Whistleblower program, whistleblowers who provide original information to the SEC may receive an award of any successful recovery made by the SEC.

About Johnson & Weaver, LLP:

Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.

Contacts

Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com

Release Summary

AKORN ALERT: Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Potential Violations of Law By Certain Officers and Directors of Akorn, Inc.

Contacts

Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com