BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors that today, May 4, 2015, is the deadline to file a lead plaintiff motion in the class action filed on behalf of investors of Akorn, Inc. (“Akorn” or the “Company”) (NASDAQ:AKRX), alleging that the Company and its officers misled investors in its prior financial statement. If you purchased Akorn shares prior to April 27, 2015, you are encouraged to contact Howard G. Smith, Esq. to discuss your legal rights in the pending class action.
Akorn, Inc. engages in the manufacture and marketing of diagnostic and therapeutic ophthalmic pharmaceuticals products, hospital drugs, and injectable pharmaceuticals in the United States and internationally. On March 2, 2015, Akorn announced that it would need an extension to file its annual report. On this news the Company shares declined $4.38 per share, or over 8%, to close on March 3, 2015 at $49.33 per share. Then on April 24, 2015, the Company announced that it would restate its prior financial reports due to errors tied to understatements of rebates and other sales allowances, and other errors that resulted in income being overstated by $20 to $30 million. On this news, shares of Akorn declined over $10.83 per share, or nearly 20%, during intraday trading on April 27, 2015 on unusually high volume.
If you purchased shares of Akorn prior to April 27, 2015, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.
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