NEW YORK, April 21, 2023 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that a class action lawsuit has been filed against Catalent, Inc. (“Catalent” or the “Company”) CTLT in the United States District Court for the District of New Jersey on behalf of all individuals and entities that purchased or otherwise acquired Catalent securities between August 30, 2021 and October 31, 2022, both dates inclusive (the “Collection Period”). Investors have until April 25, 2023 to petition the court to be named lead plaintiff in the lawsuit.

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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 stock fell to pre-COVID levels, causing significant losses to its investors as they learned that Catalent’s earnings were never sustainable in the early COVID times and class action period earnings were the…