May 15, 2019 - The court denied the defendants' motion to dismiss.

November 21, 2018 - A motion to dismiss the third amended consolidated complaint was filed.

September 21, 2018 - A third amended consolidated complaint was filed.

July 31, 2018 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

February 15, 2018 - A motion to dismiss the second amended consolidated complaint was filed.

December 14, 2017 - A second amended consolidated complaint was filed.

May 25, 2017 - An amended consolidated complaint was filed.

November 16, 2016 - An investor in shares of Lannett Company Inc (NYSE: LCI) filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania over alleged violations of Federal Securities Laws by Lannett Company Inc in connection with certain allegedly false and misleading statements made between September 12, 2013 and November 3, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Lannett Company Inc (NYSE: LCI) common shares between September 12, 2013 and November 3, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 12, 2013 and November 3, 2016 the defendants made false and/or misleading statements and/or failed to disclose that Lannett Company Inc’s drug pricing relied on unsustainable pricing methodologies, that Lannett Company Inc lacked effective internal controls concerning its drug pricing methodologies, and that as a result, Lannett Company Inc’s public statements were materially false and misleading at all relevant times and spurred ongoing investigations by the State of Connecticut Office of the Attorney General and the U.S. Department of Justice. Additionally, media outlets reported that the underlying conduct would likely lead U.S. prosecutors to file criminal charges against Lannett Company Inc by the end of 2016 for suspected price collusion.

Lannett Company Inc reported that its Total Revenue rose from $406.84 million for the 12 months period that ended on June 30, 2015 to $566.09 million for the 12 months period that ended on June 30, 2016 while its respective Net Income declined from $149.92 million to $44.78 million. Shares of Lannett Company Inc (NYSE: LCI) grew from $17.23 per share in March 2016 to as high as $36.75 per share in August 2016.

According to news reports United States prosecutors may file criminal charges against Lannett Company Inc by the end of 2016 for suspected price collusion. It was has reported that the, “antitrust investigation by the Justice Department, begun about two years ago, now spans more than a dozen companies and about two dozen drugs, according to people familiar with the matter. The grand jury probe is examining whether some executives agreed with one another to raise prices, and the first charges could emerge by the end of the year, they said.” The companies identified as targets or relevant parties in the United States investigation include Mylan NV, Teva Pharmaceutical Industries Ltd, Allergan Plc, Lannett Company Inc, Impax Laboratories Inc, Sun Pharmaceutical Industries Ltd, Mayne Pharma Group Ltd, Endo International Plc and Taro Pharmaceutical Industries Ltd.