Lannett Securities Fraud Lawsuit Gets Class Certification

A federal judge in Pennsylvania certified a plaintiff class in a lawsuit against pharmaceutical manufacturer Lannett Company Inc. over securities fraud allegations tied to a generic drug price-fixing investigation.

The lead plaintiffs asserted a theory of liability and adequately established that “damages can be measured on a class-wide basis, U.S. District Judge Wendy Beetlestone said Thursday in allowing the case to proceed as a class action.

The plaintiffs, led by lead plaintiff University of Puerto Rico Retirement System, focused their class certification motion on investors’ financial losses incurred once information about the Justice Department’s price-fixing probe became public, the ruling ...