LOS ANGELES, April 14, 2023 (GLOBE NEWSWIRE) — The law firm of Portnoy advises Catalent, Inc (“catalytic‘ or ‘the company’) CTLT Investors who have filed a lawsuit on behalf of purchased investors catalytic securities CTLT between August 30, 2021 and October 31, 2022 (the “Collection Period”).

Investors are encouraged to contact an attorney Lesley F Portnoyby phone 844-767-8529 or E-mail: lesley@portnoylaw.comto discuss your legal rights, or Click here to join the case about www.portnoylaw.com. Portnoy Law Firm can provide a free case assessment and discuss investors’ options for making claims to recover their losses.

According to the lawsuit, the defendants are accused of providing false and misleading information or failing to disclose essential information during class time. The alleged misconduct includes: a) Catalent overstated its revenues and earnings by recognizing revenues before they were due under GAAP; b) Catalent has significant weaknesses in its internal control over financial reporting related to revenue recognition; c) Catalent misrepresents demand for its products while knowingly selling more products to its direct customers than it can sell to healthcare providers and end users; d) Catalent violated regulatory requirements at key manufacturing facilities to produce excess inventory that was used to inflate the Company’s financial results by pre-recognizing revenue or passing it on to direct customers; and e) as a result of the foregoing, the Defendants did not have a sound basis for their optimistic statements regarding financial performance, prospects and regulatory compliance during the Class Period.

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Portnoy Law Firm represents investors in asserting claims against companies caused by wrongdoing. The firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Lawyer advertising….