SAN FRANCISCO, Feb. 27, 2023 (GLOBE NEWSWIRE) — Hagens Berman is urging Catalent, Inc. CTLT Investors who suffered significant losses Submit your losses now.

school lesson: August 30, 2021 – October 31, 2022
Deadline for lead plaintiff: April 25, 2023
Visit: https://www.hbsslaw.com/investor-fraud/CTLT
Contact a lawyer now: CTLT@hbsslaw.com
844-916-0895

Catalent, Inc. (CTLT) Securities Fraud Class Action:

The litigation focuses on Catalent’s repeated claims that it developed and manufactured drugs to strict quality and operational standards, that its vaccines against COVID would provide a sustainable and enduring revenue stream, and that its financial statements conformed to generally accepted accounting principles (“GAAP “).

According to the lawsuit, the defendants made misleading statements and failed to disclose that Catalent: (1) materially overstated its revenues and earnings by prematurely reporting revenues in violation of GAAP; (2) had material weaknesses in its internal control over financial reporting related to revenue recognition; (3) misrepresented the demand for its products while knowingly selling more products to its direct customers than could be sold to healthcare providers and end users; and (4) flouted government requirements at key manufacturing facilities to rapidly produce excess inventory that was used to augment its financial results through early revenue recognition in violation of GAAP and/or to replenish its direct customers with that excess inventory.

Investors began learning the truth through a series of partial disclosures that began on August 29, 2022, when Catalent announced that demand for its COVID-related products was facing significant headwinds.

Then, on September 20, 2022, the Washington Post reported that the clearance of Catalent’s COVID-19 vaccines by regulators over improper sterilization in one of the most important…