Lawsuit filed for Investors who lost money with shares of Eagle Pharmaceuticals, Inc. (NADAQ: EGRX)

An investor, who purchased shares of Eagle Pharmaceuticals, Inc. (NADAQ: EGRX), filed a lawsuit over alleged violations of Federal Securities Laws by Eagle Pharmaceuticals, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Eagle Pharmaceuticals, Inc. (NADAQ: EGRX) have certain options and for certain investors are short and strict deadlines running. Deadline: February 09, 2024. NADAQ: EGRX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Woodcliff, NJ based Eagle Pharmaceuticals, Inc., a pharmaceutical company, focuses on developing and commercializing product candidates to treat diseases of the central nervous system or metabolic critical care, and oncology in the United States. On November 9, 2023, before the market opened, Eagle Pharmaceuticals, Inc. announced that it would not release its third quarter 2023 results that day (as had been expected) because the Company "requires more time to review potential adjustments relating to the reporting of sales of PEMFEXY® prior to filing its Form 10-Q." The Company also disclosed it "expects to revise its previously disclosed 2023 full year guidance downward."

After the market closed on November 9, 2023, Eagle Pharmaceuticals, Inc. also disclosed that it was reviewing "potential adjustments to reserves for returns and price adjustments of approximately $15.0 million to $20.0 million." These amounts relate "to returns and a price adjustment for PEMFEXY stemming from slower-than-anticipated pull-through from a wholesale customer predominantly due to expiry of inventory."

Then, on November 29, 2023, before the market opened, Eagle Pharmaceuticals, Inc. disclosed that Scott Tarriff, the Company's President and Chief Executive Officer resigned. The Company's board of directors accepted the resignation "[a]fter consideration of various alternatives, including termination with or without cause."

Shares of Eagle Pharmaceuticals, Inc. (NADAQ: EGRX) declined from $34.56 per share on January 31, 2023, to as low as $4.10 per share on January 16, 2024.

The plaintiff claims that between August 8, 2023 and November 28, 2023, the Defendants failed to disclose to investors that the Company was experiencing slower-than-anticipated pull-though from a wholesale customer predominantly due to expiry of inventory, that, as a result, the Company had overstated its revenue, that the Company did not have effective internal controls and procedures over financial reporting as to PEMFEXY sales, and that as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Eagle Pharmaceuticals, Inc. (NADAQ: EGRX) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.