Aceto Class Action Lawsuit Commences
Levi & Korsinsky, LLP
April 25, 2018
To: All persons or entities who purchased or otherwise acquired common stock of Aceto Corporation (NASDAQGS: ACET) between August 25, 2017 and April 18, 2018. You are hereby notified that Levi & Korsinsky has commenced the class action Mulligan v. Aceto Corporation (Case No. 9:18-cv-02425) in the USDC for the Eastern District of New York. To get more information on the Aceto class action go to: http://www.zlk.com/pslra-d/aceto-corporation or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that (i) the Company failed to implement and enforce proper internal control to identify the misapplication of cash; (ii) the Company would incur large non-cash intangible asset impairment charges; (iii) the Company lacked effective internal control over financial reporting; (iv) the Company’s financial results for the fiscal year 2017 could not be relied upon; (v) the Company’s fiscal 2018 financial guidance was overstated; and (vi) as a result of the foregoing, Aceto’s public statements were materially false and misleading at all relevant times.
On April 18, 2018, Aceto issued a press release disclosing non-reliance on the previously issued 2018 fiscal year earnings guidance and the recording of non-cash intangible asset impairment charges, including goodwill, in the range of $230-$260 million.
If you suffered a loss in Aceto you have until June 25, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.