NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Aceto Corporation (NasdagGS: ACET).
On April 18, 2018, the Company disclosed a volume of disappointing financial news, including that its “financial guidance issued on February 1, 2018, should no longer be relied upon”; it anticipated recording “non-cash intangible asset impairment charges, including goodwill, in the range of $230 million to $260 million on certain currently marketed and pipeline generic products as a result of continued intense competitive and pricing pressures”; it was negotiating credit agreement waivers with its lenders; it expected to make a “significant reduction” to its dividend; and that its Chief Financial Officer had resigned.
On this news, the price of Aceto’s shares plummeted more than 63% on intraday trading on April 19, 2018.
KSF’s investigation is focusing on whether Aceto and/or its officers and directors violated state or federal securities laws.
If you are an Aceto shareholder and have suffered losses, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-acet/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.