Lannett (LCI) Investor Settlement
Lannett has agreed to a settlement with $LCI investors to resolve claims of engaging in price-fixing schemes.
In 2017, Lannett was accused of participating in a price-fixing scheme for generic drugs, artificially inflating prices while failing to disclose its violations of antitrust laws between 2013 and 2017. When this information became public, $LCI dropped 14%, causing significant financial losses for investors. On October 31, 2017, investors filed a lawsuit against the company.
July 8, 2014 – The New York Times reported suspicious price hikes on Lannett’s Digoxin.
July 16, 2014 – Lannett received a subpoena from the Connecticut Attorney General investigating price-fixing.
December 8, 2014 – Lannett revealed a federal investigation into possible antitrust violations.
October 31, 2017 – A lawsuit filed by 45 states accused Lannett of colluding with competitors to inflate drug prices, causing $LCI to drop 14% and leading to an investor lawsuit.
August 17, 2020 – Lannett reached a settlement with investors to resolve these claims.
In 2017, Lannett was accused of participating in a price-fixing scheme for generic drugs such as Doxycycline Monohydrate, Digoxin and Ursodiol over the previous five years. Internal communications uncovered during state and federal investigations revealed that Lannett executives coordinated price hikes with competitors, shared confidential pricing data, and allocated market shares among other manufacturers.
Despite these investigations, Lannett continued to assure investors that its financial success was due to "market forces" rather than collusion. However, in October 2017, 45 states filed an expanded lawsuit, exposing Lannett’s role in the scheme. This caused a 14% stock drop, leading investors to file their own lawsuit over misleading financial statements.
Lannett has reach a settlement with $LCI investors to resolve claims of engaging in price-fixing schemes.
If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section below.
Frequently Asked Questions
All persons who purchased or otherwise acquired Lannett common stock during the period from July 15, 2014, through October 31, 2017, inclusive, and were damaged thereby
No, if you have purchased securities within the class period, you are eligible to participate.
You can participate in the settlement and retain (or sell) your securities.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
The final payout amount depends on your specific trades and the number of investors participating in the settlement.
If 100% of investors file their claims, the average payout will be $1.33 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $5.32 per share.
If you're eligible, you can file your claim directly from this case page by clicking the "Collect Payout" button.
More than 100 companies are currently paying out settlements. Connect your brokerage account to automatically check which ones you may have missed — or file manually for this case.
11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:
1. Prepare documents for your payout
2. Audit the claim and make sure you get the maximum possible payout
3. File a claim with the settlement administration
4. Correspond with the settlement administration to resolve emerging issues
5. Deliver payout directly to your brokerage account
There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.