---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-070880"
form_type: "8-K"
ticker: null
cik: "0000057725"
company_name: "LANNETT CO INC"
filed_at: "2023-06-13T23:59:59+00:00"
generated_at: "2026-06-14T02:24:51.869725+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Bankruptcy Court confirms Lannett's prepackaged Chapter 11 plan; old equity cancelled

## Summary
- Court confirmed plan on June 8, 2023; emergence expected by June 16, 2023.
- First lien secured note holders receive 97% of new common stock and Takeback Exit Facility.
- Second lien lenders receive 3% of new common stock, Takeback Exit Facility, and warrants.
- Existing common and preferred equity holders receive no distribution; shares cancelled.
- As of March 31, 2023, total assets $334.6M and total liabilities $746.9M.

## SEC filing metadata
- accession: 0001104659-23-070880
- form_type: 8-K
- cik: 0000057725
- company_name: LANNETT CO INC
- filed_at: 2023-06-13T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/57725/000110465923070880/0001104659-23-070880-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/57725/000110465923070880/tm2318549d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-070880
- JSON: https://secwatch.observer/filing/0001104659-23-070880.json
- Plain text: https://secwatch.observer/filing/0001104659-23-070880.txt

## Key facts
- Distress & Bankruptcy
  LANNETT CO INC entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2023-05-02).
  - Proceeding: chapter 11
  - Court: United States Bankruptcy Court for the District of Delaware
  - Petition: 2023-05-02
  source text: filed voluntary petitions (the “Chapter 11 Cases”) under chapter 11 of title 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) . The Chapter 11 Cases are being jointly administered under the caption In re Lannett Company, Inc., et al. , Case No. 23-10559 (JKS).
  evidence_url: https://www.sec.gov/Archives/edgar/data/57725/000110465923070880/0001104659-23-070880-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.