SHAREHOLDER ALERT: Brower Piven Notifies Investors of Class Action Lawsuit And Encourages Those Who Have Losses In Excess Of $100,000 From Investment In Lannett Company, Inc. To Contact Brower Piven Before The Lead Plaintiff Deadline – LCI

STEVENSON, Md., Nov. 18, 2016 -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of purchasers of Lannett Company, Inc. (NYSE:LCI) (“Lannett” or the “Company”) securities during the period between September 12, 2013 through November 3, 2016, inclusive (the “Class Period”).  Investors who wish to become proactively involved in the litigation have until January 17, 2017 to seek appointment as lead plaintiff.

If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court.  The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action.  The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Lannett securities during the Class Period.  Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.  No class has yet been certified in the above action.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that Lannett’s drug pricing relied on unsustainable pricing methodologies and Lannett lacked effective internal controls concerning its drug pricing methodologies.

According to the complaint, following a July 16, 2014 press release revealing the Company had received interrogatories and a subpoena from the State of Connecticut Office of the Attorney General concerning its investigation into pricing of digoxin, a November 6, 2014 filing with the U.S. Securities and Exchange Commission (“SEC”) revealing that the Senior Vice President of Sales and Marketing was served with a grand jury subpoena relating to the federal investigation, a December 8, 2014 filing with the SEC revealing that the Company was also served with a grand jury subpoena, and a November 2, 2016 Bloomberg article revealing that U.S. prosecutors may file criminal charges by the end of 2016, the value of Lannett shares declined significantly.

If you have suffered a loss in excess of $100,000 from investment in Lannett securities purchased on or after September 12, 2013 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.  You may also request more information by contacting Brower Piven either by email at [email protected] or by telephone at (410) 415-6616.  Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.  If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice.  You need take no action at this time to be a member of the class.

CONTACT:  Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
[email protected]