Overview

• Eagle Pharmaceuticals is facing a class action lawsuit alleging accounting fraud, with investors who suffered substantial losses urged to submit their losses.
• The litigation focuses on whether Eagle Pharmaceuticals knew and should have disclosed earlier that it had understated reserves, leading to overstated revenues.
• Eagle Pharmaceuticals announced on November 9, 2023, that it would not timely file its financial report for the quarter ended September 30, 2023, due to the need for additional time to review potential adjustments relating to the reporting of sales of PEMFEXY®.
• On November 29, 2023, Eagle Pharmaceuticals announced that its board of directors accepted the resignation of its CEO, Scott Tarriff, effective immediately.
• Investors began to learn the truth when Eagle announced that it would not timely file its financial report, which sent the price of Eagle shares down $4.16, or about 30%, on November 9, 2023.