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INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That Securities Class Action Lawsuits Have Been Filed on Behalf of Investors in Catalent, Inc. (CTLT), and Cognyte Software Ltd. (CGNT), and PLDT Inc. (PHI), and Encourages Investors to Contact the…

/EIN News/ -- NEW YORK, March 24, 2023 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of investors in securities of Catalent, Inc., Cognyte Software Ltd., and PLDT, Inc. Investors have until the deadlines below to apply to the Court to be appointed as lead plaintiff in the lawsuits. Additional information about each case can be found at the links provided below.

Catalent, Inc. (“Catalent”) (NYSE: CTLT)

Class Period: August 30, 2021 to October 31, 2022
Pending Court: U.S. District Court for the District of New Jerse
Lead Plaintiff Deadline: April 25, 2023

The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose that: (i) Catalent materially overstated its revenue and earnings by prematurely recognizing revenue in violation of U.S. Generally Accepted Accounting Principles (“GAAP”); (ii) Catalent had material weaknesses in its internal control over financial reporting related to revenue recognition; (iii) Catalent falsely represented demand for its products while it knowingly sold more product to its direct customers than could be sold to healthcare providers and end consumers; and (iv) Catalent disregarded regulatory rules at key production facilities in order to rapidly produce excess inventory that was used to pad the Catalent’s financial results through premature revenue recognition in violation of GAAP and/or stuffing its direct customers with this excess inventory.

For additional information on the Catalent lawsuit, please visit this website.

Cognyte Software Ltd. (“Cognyte”) (NASDAQ: CGNT)

Class Period: February 2, 2021 to June 28, 2022
Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: May 1, 2023

The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose that Cognyte created, distributed, and provided reconnaissance tools and services that violated community standards and terms of service of communication network sources and technologies, such as Facebook, exposing the Cognyte to significant financial and reputational risk.

For additional information on the Cognyte lawsuit, please visit this website.

PLDT, Inc. (“PLDT”) (NYSE: PHI)

Class Period: January 1, 2019 to December 19, 2022
Pending Court: U.S. District Court for the Central District of California
Lead Plaintiff Deadline: April 7, 2023

The lawsuit alleges that, throughout the Class Period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) there were capital spending budget overruns; and (2) Defendants had failed to address weaknesses that allowed such budget overruns.

For additional information on the PLDT lawsuit, please visit this website.

About Kirby McInerney LLP:

Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
investigations@kmllp.com
www.kmllp.com


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