NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds investors that they have until June 25, 2018 to file lead plaintiff applications in a securities class action lawsuit against Aceto Corporation (NasdaqGS: ACET), if they purchased the Company’s shares between August 25, 2017 and April 18, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of New York.
Aceto investors should visit us at https://www.claimsfiler.com/cases/view-aceto-corporation-securities-litigation or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Aceto and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 18, 2018, the Company disclosed wide-ranging negative financial news, including that its “financial guidance issued on February 1, 2018, should no longer be relied upon”; it anticipates recording impairment charges of “$230 million to $260 million” on certain products; it was negotiating credit agreement waivers with its lenders; it expected to make a “significant reduction” of 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.
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