Glancy Prongay & Murray LLP announces that it has filed a class action lawsuit in the United States District Court for the Northern District of Illinois on behalf of a class (the “Class”) of purchasers of the securities of Akorn, Inc. (“Akorn” or the “Company”) (Nasdaq: AKRX) between April 17, 2014 and April 24, 2015, inclusive (the “Class Period”). Shareholders have until May 4, 2015 to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.

Akorn is a specialty pharmaceutical company that develops, manufactures and markets multisource and branded pharmaceuticals alongside prescription animal health products and over-the-counter consumer health products. In 2014, the Company completed two significant acquisitions. On April 17, 2014 the Company completed its acquisition of Hi-Tech Pharmacal Co., Inc. (“Hi-Tech”) for $640 million in cash, and on August 12, 2014, the Company completed its acquisition of VPI Holdings Corp., the parent company of VersaPharm Incorporated (“VersaPharm”), for $440 million.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, by failing to disclose: (1) that the Company had errors in its manual reconciliation of chargeback reserve data for a customer; (2) that, as a result, the Company overstated Hi-Tech’s chargeback reserve; (3) that the Company understated rebates and other sales allowances; (4) that the Company had not properly integrated Hi-Tech and VersaPharm’s accounting systems; (5) that, as a result, the Company’s revenue was overstated; (6) that the Company’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles; (7) the Company lacked adequate internal and financial controls; and (8) that, as a result of the foregoing, Defendants’ statements were false and misleading and/or lacked a reasonable basis.

If you are a member of the Class described above, you may move the Court no later than May 4, 2015, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

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