LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of investors of Perrigo Company plc (“Perrigo” or the “Company”) (NYSE: PRGO) concerning the Company and its officers’ possible violations of federal securities laws. GPM is preparing a lawsuit on behalf of injured investors.
On April 8, 2015, Mylan N.V. ("Mylan") offered to purchase Perrigo for $205 per share, representing a nearly 30% premium to Perrigo's total market capitalization. On news of Mylan's offer, the price of Perrigo stock soared to $215 per share during intraday trading on April 8, 2015.
However, on April 21, 2015, Perrigo publicly rejected Mylan's offer. Asserting that Mylan’s offer substantially undervalued Perrigo and its growth prospects, and that the offer did not take into account the full benefits of the Company's acquisition of Omega Pharma N.V. ("Omega"), Perrigo proceeded to engage in a public campaign to convince shareholders to reject Mylan's proposal.
Then on November 13, 2015, the majority of the Company's shareholders refused to tender their shares. Subsequently, several disclosures by the Company between February 17 and May 12, 2016—including weaker-than-expected fourth-quarter 2015 financial and operating results, the departure of Perrigo's Chief Executive Officer Joseph C. Papa, and a $467 million impairment charge relating to the Omega acquisition—resulted in the Company's stock price falling from $145.17 to just $98.04.
If you purchased Perrigo securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, 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.
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