{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-22-127833","form_type":"8-K","ticker":null,"cik":"0000057725","company_name":"LANNETT CO INC","filed_at":"2022-12-16T23:59:59+00:00","discovered_at":"2026-05-14T18:03:53.247674+00:00","generated_at":"2026-06-21T03:44:59.616191+00:00","sec_items":["2.05","2.06"],"event_type":"other_material","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Lannett announces 11% workforce reduction, facility exits; expects $3M severance, $6-8M impairment","bullets":["Authorized restructuring plan on Dec 15, 2022; reducing workforce by 64 positions (~11% of total employees).","Exiting State Road and Torresdale facilities in Philadelphia by end of fiscal year 2023.","Estimated $3.0M in severance costs; $0.4M expected in Q2 fiscal 2023.","Non-cash impairment charge of $6-8M on Torresdale facility in Q2 fiscal 2023 in addition to restructuring costs."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-22-127833","json":"https://secwatch.observer/filing/0001104659-22-127833.json","markdown":"https://secwatch.observer/filing/0001104659-22-127833.md","text":"https://secwatch.observer/filing/0001104659-22-127833.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/57725/000110465922127833/0001104659-22-127833-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/57725/000110465922127833/tm2232845d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T03:44:59.616191+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ad2121b0dd0337054c24cb41cc63bcf81a4e5408","claim":"LANNETT CO INC announced a impairment with charges of estimated range of $6 million to $8 million affecting Torresdale facility.","evidence_excerpt":"the Company expects to record a non-cash impairment charge of its Torresdale facility in the estimated range of $6 million to $8 million in the second quarter of Fiscal 2023.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/57725/000110465922127833/0001104659-22-127833-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"impairment"},{"label":"Charge","value":"estimated range of $6 million to $8 million"},{"label":"Affected area","value":"Torresdale facility"}],"fact_type":"restructuring_charge"},{"claim_id":"f2b45836ebdc7039cf3f589f53c70a635086dd39","claim":"LANNETT CO INC announced a restructuring with charges of approximately $3.0 million affecting State Road and Torresdale facilities in Philadelphia, Pennsylvania (by 64 positions, equal to approximately 11% of the Company's total number of employees).","evidence_excerpt":"exiting our State Road and Torresdale facilities in Philadelphia, Pennsylvania by the end of our current fiscal year. The Company estimates that it will incur approximately $3.0 million in severance-related costs in connection with the 2022 Restructuring Plan, of which $0.4 million is expected to be incurred in the second quarter of Fiscal 2023. These expenses","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/57725/000110465922127833/0001104659-22-127833-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $3.0 million"},{"label":"Affected area","value":"State Road and Torresdale facilities in Philadelphia, Pennsylvania"},{"label":"Headcount","value":"by 64 positions, equal to approximately 11% of the Company's total number of employees"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}