BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Mylan N.V. (“Mylan” or the “Company”) (NASDAQ: MYL) securities between February 28, 2013 and October 7, 2016, inclusive (the “Class Period”). Mylan investors have until December 12, 2016 to file a lead plaintiff motion.
Investors suffering losses on their Mylan investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
The complaint filed in this lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Mylan paid Medicaid significantly lower EpiPen rebates than legally required; (2) Medicaid had previously advised Mylan of the Company’s obligation to pay higher rebates; (3) Mylan therefore knowingly and systemically overcharged Medicaid for EpiPens in violation of federal law; (4) millions of dollars of Mylan’s revenue from EpiPen sales were the result of the foregoing illegal conduct by the Company; and (5) consequently, Mylan’s public statements were materially false and misleading at all relevant times.
Note: Mylan has said it agreed to pay $465 million to settle allegations that it overbilled Medicaid for EpiPen. At issue was whether the product should have been classified as generic under a Medicaid program.
The chairman of the Senate Judiciary Committee, Sen. Charles Grassley, recently said he is considering a subpoena or another method of compelling testimony from the pharmaceutical company Mylan, the Justice Department and the federal Centers for Medicare and Medicaid Services in connection with the settlement.
If you purchased shares of Mylan during the Class Period you may move the Court no later than December 12, 2016 to ask the Court to appoint you 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.