SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Catalent, Inc. - CTLT
NEW YORK, March 11, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Catalent, Inc. ("Catalent" or the "Company") (NYSE: CTLT). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Catalent and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 5, 2024, Catalent announced that it had agreed to be sold to Novo Holdings for $63.50 per share in cash. Novo Holdings is the controlling shareholder of the Novo Group companies (including Novo Nordisk), and Catalent is one of Novo Nordisk's main manufacturing partners for the popular weight-loss drug Wegovy. As part of the transaction, Novo Nordisk will acquire three Catalent manufacturing facilities, including a plant located in Bloomington, Indiana. Then, on February 6, 2024, Bloomberg published an article reporting that the Indiana factory to be acquired by Novo Nordisk was not in compliance with U.S. Food and Drug Administration ("FDA") safety and quality standards. Citing an FDA report obtained via a Freedom of Information request, Bloomberg reported that FDA inspectors visited the Indiana factory in October and November and documented multiple instances of workers failing to ensure the quality and purity of drugs produced there. According to Bloomberg, the FDA also noted that a "pest" had been found somewhere on a manufacturing line handling syringes in June.
On this news, Catalent's stock price fell $3.32 per share, or 5.55%, over the following two trading sessions, to close at $56.50 per share on February 7, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
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