NEW YORK, March 17, 2023 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that class action lawsuits can be filed on behalf of shareholders of Catalent, Inc. CTLTTesla, Inc. TSLADLocal Ltd DLOand Cognyte Software Ltd. CGNT. Shareholders have until the deadlines below to petition the court to appear as lead plaintiffs. For more information on each case, see the link provided.

Catalent, Inc. CTLT

Class period: August 30, 2021 – October 31, 2022

Lead Plaintiff Deadline: April 25, 2023

This case is about the rise and fall of a company that initially benefited from the COVID-19 pandemic (also referred to herein as “COVID-19”, “COVID” or “pandemic”). As a vaccine maker, Catalent has been one of the beneficiaries of COVID, as it appeared well-positioned to capitalize on rapidly growing demand for vaccine manufacturing capacity. In fact, Catalent nearly doubled its business in the first year of the pandemic, when the bulk of the vaccines were being administered. Catalent’s success in the early stages of the pandemic sent its stock price to record highs. Defendants engaged in accounting and channel stuffing programs to supplement the Company’s revenues until mid-2021, when COVID-related work ceased. Those plans gave Catalent the semblance of continued growth and pushed its stock price to new all-time highs. Meanwhile, to support those plans and keep pace with its ambitious growth goals, Catalent streamlined safety and control procedures at key manufacturing facilities. By the end of 2022, Catalent was reporting significant sales declines and excess inventory across its supply chain. As a result, Catalent’s stock fell to pre-COVID levels, resulting in significant losses for its investors as they learned that Catalent’s earnings were never sustainable in the early COVID era and that the class-action period earnings were the product of securities fraud.

As a background, Catalent is a…