The information contained on this website is only a summary of information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional information.
If you purchased or acquired the publicly traded common stock of Lannett Company, Inc. (“Lannett” or the “Company”) during the period from July 15, 2014 and October 31, 2017, inclusive, and were damaged thereby, you could receive a payment from a proposed class action settlement (the “Settlement”).
If you purchased or acquired the publicly traded common stock of Lannett Company, Inc. (“Lannett” or the “Company”) during the period from July 15, 2014 and October 31, 2017, inclusive, and were damaged thereby, you could receive a payment from a proposed class action settlement (the “Settlement”).
PLEASE READ THE NOTICE CAREFULLY.
| Description | Due Date | |
|---|---|---|
|
SUBMIT A CLAIM FORM |
The only way to be eligible to get a payment is to submit a Proof of Claim. Proofs of Claim must be postmarked or submitted online by April 2, 2026. See response to question 11 in the Notice. |
|
|
DO NOTHING |
If you do nothing, you will not receive any payment and you will not be able to ever be part of any other lawsuit regarding the legal claims in this case. |
The Settlement Hearing
On April 16, 2026, the Court held a hearing to consider final approval of the Settlement and other matters. On April 17, 2026, the Court entered an Order and Final Judgment approving the Settlement, Plan of Allocation, award to Plaintiffs' Counsel for attorneys' fees and expenses and awards to Plaintiffs for their service to the Settlement Class.
What is this case about?
The proposed Settlement will resolve all claims asserted in the Action, which was brought on behalf of a class of investors in the shares of Lannett during the Class Period. In general, the Action alleges that Defendants violated the federal securities laws because they allegedly made material misrepresentations and/or omissions about the generic drug market, whether Lannett was aware that drug prices were not being set in a competitive market, and the potential impact on Lannett of investigations into purported industry price-fixing agreements. Defendants have denied and continue to deny to the fullest extent possible each, any, and all allegations of wrongdoing, fault, liability, or damage whatsoever asserted in the Action. Defendants believe all of the statements identified in the lawsuit were materially accurate when made and that they genuinely believed, and had a reasonable basis to believe, that they were accurate.
The Settlement Benefits
Defendants have agreed to pay or cause to be paid U.S. $5,750,000 in cash (the “Settlement Amount”) into a settlement fund (the “Settlement Fund”) for the benefit of the Settlement Class. Since the Settlement was approved by the Court and became effective, the Net Settlement Fund – consisting of: (a) the Settlement Amount plus interest (net of taxes) earned thereon, minus (b) Notice and Administration Expenses, Court-approved plaintiffs’ attorneys’ fees and expenses, and any Court-approved awards to Plaintiffs – will be allocated among all “Authorized Claimants” (i.e., among those eligible Settlement Class Members who timely submit valid Claim Forms). Notice and Administration Expenses include the costs of printing and mailing the Notice and the costs of claims administration and processing. Distribution to Authorized Claimants will be made according to the Plan of Allocation approved by the Court.
In return, if the Settlement is approved and becomes effective, the Action will be dismissed, and all Settlement Class Members who have not excluded themselves from the Settlement Class will be deemed to have waived, released, relinquished and forever discharged with prejudice all Released Claims against all Defendants and the other “Released Defendants’ Parties,” whether or not such Settlement Class Members submit a Claim Form.
Further Information
This website and the Notice summarize the Settlement. For more details regarding the Settlement, please reference the Stipulation or other documents filed in the case under the “Court Documents” link on the left. You may also contact the Claims Administrator or Lead Counsel for further information regarding the Settlement:
Claims Administrator:
Utesch v. Lannett Company, Inc., et al.
A.B. Data, Ltd.
P.O. Box 173112
Milwaukee, WI 53217
Tel: 1-877-316-0186
Lead Counsel:
Mitchell M.Z. Twersky, Esq.
Lawrence D. Levit, Esq.
ABRAHAM, FRUCHTER & TWERSKY, LLP
450 Seventh Avenue
38th Floor
New York, NY 10123
Tel: (212) 279-5050
mtwersky@aftlaw.com
llevit@aftlaw.com
On April 16, 2026, the Court held a hearing to consider final approval of the Settlement and other matters. On April 17, 2026, the Court entered an Order and Final Judgment approving the Settlement, Plan of Allocation, award to Plaintiffs' Counsel for attorneys' fees and expenses and awards to Plaintiffs for their service to the Settlement Class.
What is this case about?
The proposed Settlement will resolve all claims asserted in the Action, which was brought on behalf of a class of investors in the shares of Lannett during the Class Period. In general, the Action alleges that Defendants violated the federal securities laws because they allegedly made material misrepresentations and/or omissions about the generic drug market, whether Lannett was aware that drug prices were not being set in a competitive market, and the potential impact on Lannett of investigations into purported industry price-fixing agreements. Defendants have denied and continue to deny to the fullest extent possible each, any, and all allegations of wrongdoing, fault, liability, or damage whatsoever asserted in the Action. Defendants believe all of the statements identified in the lawsuit were materially accurate when made and that they genuinely believed, and had a reasonable basis to believe, that they were accurate.
The Settlement Benefits
Defendants have agreed to pay or cause to be paid U.S. $5,750,000 in cash (the “Settlement Amount”) into a settlement fund (the “Settlement Fund”) for the benefit of the Settlement Class. Since the Settlement was approved by the Court and became effective, the Net Settlement Fund – consisting of: (a) the Settlement Amount plus interest (net of taxes) earned thereon, minus (b) Notice and Administration Expenses, Court-approved plaintiffs’ attorneys’ fees and expenses, and any Court-approved awards to Plaintiffs – will be allocated among all “Authorized Claimants” (i.e., among those eligible Settlement Class Members who timely submit valid Claim Forms). Notice and Administration Expenses include the costs of printing and mailing the Notice and the costs of claims administration and processing. Distribution to Authorized Claimants will be made according to the Plan of Allocation approved by the Court.
In return, if the Settlement is approved and becomes effective, the Action will be dismissed, and all Settlement Class Members who have not excluded themselves from the Settlement Class will be deemed to have waived, released, relinquished and forever discharged with prejudice all Released Claims against all Defendants and the other “Released Defendants’ Parties,” whether or not such Settlement Class Members submit a Claim Form.
Further Information
This website and the Notice summarize the Settlement. For more details regarding the Settlement, please reference the Stipulation or other documents filed in the case under the “Court Documents” link on the left. You may also contact the Claims Administrator or Lead Counsel for further information regarding the Settlement:
Claims Administrator:
Utesch v. Lannett Company, Inc., et al.
A.B. Data, Ltd.
P.O. Box 173112
Milwaukee, WI 53217
Tel: 1-877-316-0186
Lead Counsel:
Mitchell M.Z. Twersky, Esq.
Lawrence D. Levit, Esq.
ABRAHAM, FRUCHTER & TWERSKY, LLP
450 Seventh Avenue
38th Floor
New York, NY 10123
Tel: (212) 279-5050
mtwersky@aftlaw.com
llevit@aftlaw.com