August 3, 2020 - The defendant was dropped from the case due to bankruptcy proceedings. The case was dismissed.

August 27, 2019 - A second amended consolidated complaint was filed.

August 6, 2019 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

April 1, 2019 - A motion to dismiss the amended consolidated complaint was filed.

February 27, 2019 - A suggestion of bankruptcy was filed.

January 28, 2019 - An amended consolidated complaint was filed.

April 24, 2018 - An investor in shares of Aceto Corporation (NASDAQ: ACET) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Aceto Corporation in connection with certain allegedly false and misleading statements made between August 25, 2017 and April 18, 2018. Port Washington, NY based Aceto Corporation, together with its subsidiaries, sources, markets, sells, and distributes finished dosage form generics, nutraceutical products, pharmaceutical intermediates and active ingredients, agricultural protection products, and specialty chemicals.

Aceto Corporation reported that its Total Revenue rose from $558.52 million for the 12 months period that ended on June 30, 2016 to $638.31 million for the 12 months period that ended on June 30, 2017 and that its Net Income declined from $34.76 million to $11.37 million over those respective time periods.

On April 18, 2018, Aceto Corporation issued a press release announcing that “the financial guidance issued on February 1, 2018, should no longer be relied upon.” The Company also announced that it anticipates recording “non-cash intangible asset impairment charges, including goodwill, in the range of $230 million to $260 million on certain currently marketed and pipeline generic products as a result of continued intense competitive and pricing pressures.”

Shares of Aceto Corporation (NASDAQ: ACET) declined to $2.22 per share on April 23, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Aceto Corporation (NASDAQ: ACET) common shares between February 1, 2018 and April 18, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 1, 2018 and April 18, 2018, the defendants made false and/or misleading statements and/or failed to disclose that due to undisclosed competitive and pricing pressures, Aceto Corporation was unlikely to meet the performance metrics the Company provided to its investors as financial guidance, that accordingly, Aceto Corporation’s financial guidance was overstated, and that as a result of the foregoing, Aceto Corporation’s financial statements and defendants’ statements about Aceto Corporation’s business, operations, and prospects, were materially false and misleading at all relevant times. April 24, 2018 - An investor in shares of Aceto Corporation (NASDAQ: ACET) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Aceto Corporation in connection with certain allegedly false and misleading statements made between August 25, 2017 and April 18, 2018.