SOURCE: Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP

March 06, 2015 16:00 ET

INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $100,000 Investing in Akorn, Inc. (AKRX) to Contact the Firm

NEW YORK, NY--(Marketwired - March 06, 2015) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Akorn, Inc. ("Akorn" or the "Company") (NASDAQ: AKRX) of the May 4, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Akorn and certain executives.

A complaint has been filed in the Northern District of Illinois on behalf of all persons who purchased or otherwise acquired Akorn securities between April 17, 2014 and March 2, 2015, inclusive (the "Class Period").

The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.

Specifically, the action alleges that during the Class Period, Akorn made false and/or misleading statements and/or failed to disclose that: (i) as of December 31, 2014, after it acquired two companies, Akorn had not yet integrated those new subsidiaries into Akorn's centralized accounting department and accounting systems; (ii) certain financial and other related data related to the new subsidiaries were not timely collected and compiled; (iii) because of those issues, Akorn was unable to complete its assessment of the effectiveness of its internal control over financial reporting as of December 31, 2014 in a timely manner; and (iv) the Company's internal control over financial reporting was ineffective and material weaknesses existed in regards to the completeness and accuracy of underlying data used in the determination of significant estimates and accounting transactions and accurate and timely reporting of its financial results and disclosures in its Form 10-K.

On March 2, 2015, Akorn announced that it had filed a Notification of Late Filing in connection with its Form 10-K for the year ended December 31, 2014 due to delays in collecting and compiling certain financial information relating to its new subsidiaries.

Following this news, the price of the Company's stock declined by $4.38 or over 8%, to close at $49.33 on March 3, 2015.

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Take Action

If you invested in Akorn stock, bonds or options between April 17, 2014 and March 2, 2015 and would like to discuss your legal rights, visit You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to Faruqi & Faruqi, LLP also encourages anyone with information regarding Akorn's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at or on Facebook at

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

Contact Information

    369 Lexington Avenue, 10th Floor
    New York, NY 10017
    Attn: Richard Gonnello, Esq.
    Telephone: (877) 247-4292 or (212) 983-9330