A Deadline is coming up on June 25, 2018 in the lawsuit for investors in Aceto Corporation (NASDAQ: ACET) and NASDAQ: ACET stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/11/2018 -- A deadline is coming up on June 25, 2018 in the lawsuit filed for investors of Aceto Corporation (NASDAQ: ACET) over alleged securities laws violations by Aceto.
Investors who purchased shares of Aceto Corporation (NASDAQ: ACET) have certain options and there are strict and short deadlines running. Deadline: June 25, 2018. NASDAQ: ACET stockholders should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges on behalf of purchasers of Aceto Corporation (NASDAQ: ACET) common shares between February 1, 2018 and April 18, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 1, 2018 and April 18, 2018, the Defendants made false and/or misleading statements and/or failed to disclose that due to undisclosed competitive and pricing pressures, Aceto was unlikely to meet the performance metrics the Company provided to its investors as financial guidance, that accordingly, Aceto's financial guidance was overstated, and that as a result of the foregoing, Aceto's financial statements and Defendants' statements about Aceto's business, operations, and prospects, were materially false and misleading at all relevant times.
On April 18, 2018, Aceto Corporation issued a press release announcing that "the financial guidance issued on February 1, 2018, should no longer be relied upon." The Company also announced that it anticipates recording "non-cash intangible asset impairment charges, including goodwill, in the range of $230 million to $260 million on certain currently marketed and pipeline generic products as a result of continued intense competitive and pricing pressures."
Those who purchased shares of Aceto Corporation (NASDAQ: ACET) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego