SAN DIEGO & PORT WASHINGTON, N.Y.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Aceto Corporation (NasdaqGS: ACET) breached their fiduciary duties to shareholders. Aceto announced on April 18, 2018, that it is negotiating with its lenders for a waiver of its credit agreement regarding certain of its financial covenants due to adverse conditions in the generics market. Aceto also stated that the financial guidance issued on February 1, 2018, should no longer be relied upon and that the company anticipates a non-cash intangible asset impairment charge of $230 million to $260 million. The board further anticipated a significant reduction in the company's dividend going forward, causing the company's stock to plummet over 66%, closing at $2.51 per share on April 20, 2018. Aceto, together with its subsidiaries, sources, markets, sells, and distributes finished dosage form generics, nutraceutical products, pharmaceutical intermediates and active ingredients, agricultural protection products, and specialty chemicals.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/aceto-corporation
Aceto Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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