Teligent Inc (NASDAQ: TLGT) Investor Securities Class Action Lawsuit 04/15/2019

If you purchased a significant amount of shares of Teligent Inc (NASDAQ: TLGT) between May 2, 2017 and November 7, 2017, and / or if you purchased any NASDAQ: TLGT shares prior to May 2017 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: June 14, 2019. NASDAQ: TLGT investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Teligent
Case Name: 
Teligent Shareholder Class Action Lawsuit 04/15/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: TLGT
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
04/15/2019
Class Period Begin: 
05/02/2017
Class Period End: 
11/07/2017
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
06/14/2019
Summary: 

An investor in shares of Teligent Inc (NASDAQ: TLGT) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Teligent Inc in connection with certain allegedly false and misleading statements made between May 2, 2017 and November 7, 2017.

Buena, Nj based Teligent, Inc., formerly IGI Laboratories, Inc., is a specialty generic pharmaceutical company. Teligent Inc reported that its annual Total Revenue rose from $44.25 million in 2015 to $63.01 million in 2016. On November 6, 2017, after the market closed, Teligent, Inc t filed a Form with the SEC disclosing disappointing third quarter 2017 earnings. Teligent, Inc reported that its Total revenue fell to $13.7 million from the previous quarter’s $18.4 million, a 25.5% drop, and from third quarter 2016’s $16.2 million, a 15.4% drop. Teligent’s earnings announcement quoted President and Chief Executive Officer Jason Grenfell-Gardner attributing the drop in revenue to FDA approval delays and competition.

Shares of Teligent Inc (NASDAQ: TLGT) declined from $9.43 per share in June 2017 to as low as $2.82 per share in November 7, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Teligent Inc (NASDAQ: TLGT) common shares between May 2, 2017 and November 7, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 2, 2017 and November 7, 2017, the Defendants made false and/or misleading statements regarding, and/or failed to disclose, product non-conformities in research and development and non-compliance with applicable regulations.