STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of purchasers of Perrigo Company plc (NYSE: PRGO) (“Perrigo” or the “Company”) common stock between April 21, 2015 and May 11, 2016, inclusive (the “Class Period”). This action is also brought on behalf of all investors in Perrigo common stock as of November 13, 2015, which was the deadline for Perrigo investors to tender their shares in connection with a tender offer made by Mylan N.V. (“Mylan”). Investors with losses in excess of $100,000 who wish to become proactively involved in the litigation have until July 18, 2016 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Perrigo common stock during the Class Period. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period, and prior to November 13, 2015, which was the deadline for Perrigo shareholders to tender their shares in connection with a tender offer made by Mylan, that Mylan’s offer did not undervalue Perrigo, Perrigo would not be able to achieve 5%-10% organic growth as a standalone company, the Company’s competitive position and growth strategy was deteriorating, Perrigo was experiencing serious issues integrating the Omega Pharma N.V. (“Omega”) acquisition and significantly overpaid for Omega’s business, and the Company had not provided transparent financial and operational results.
According to the complaint, following a February 18, 2016 announcement of lower than expected financial results, the need to restructure parts of the Omega business and an $185 million impairment charge, an April 22, 2016 Reuters report that the Company’s Chief Executive Officer (“CEO”) would be appointed CEO of a competing company, an April 25, 2016 confirmation of the resignation and announcement of lowered guidance due to increased competitive pressures and weaker than expected performance within Omega, and a May 12, 2016 announcement of a first quarter net loss largely due to an additional $467 impairment charge relating to the Omega acquisition, the value of Perrigo shares declined significantly.
If you have suffered a loss from investment in Perrigo common stock purchased on or after April 21, 2015 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.