A lawsuit was filed on behalf of investors in Aceto Corporation (NASDAQ: ACET) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 05/15/2018 -- An investor, who purchased shares of Aceto Corporation (NASDAQ: ACET), filed a lawsuit over alleged violations of Federal Securities Laws by Aceto.
Investors who purchased shares of Aceto Corporation (NASDAQ: ACET) have certain options and for certain investors are short and strict deadlines running. Deadline: June 25, 2018. NASDAQ: ACET investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint 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.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com