LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Teva Pharmaceuticals (“Teva” or the “Company”) (NYSE: TEVA) securities between February 10, 2015 and November 3, 2016, inclusive (the “Class Period”). Teva investors have until January 5, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Teva investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Teva was engaging and/or had engaged in conduct that would result in an antitrust investigation by the U.S. Department of Justice (“DOJ”) and the State of Connecticut Office of the Attorney General; (2) the DOJ investigation and the underlying conduct could cause U.S. prosecutors to file criminal charges against Teva by the end of 2016 for suspected price collusion; (3) in turn, Teva lacked effective internal controls over financial reporting; and (4) as a result, Teva's public statements were materially false and misleading at all relevant times.
Bloomberg News has reported that the “antitrust investigation by the Justice Department, begun about two years ago, now spans more than a dozen companies and about two dozen drugs, according to people familiar with the matter. The grand jury probe is examining whether some executives agreed with one another to raise prices, and the first charges could emerge by the end of the year, they said.”
The companies identified as targets or relevant parties in the United States investigation include Mylan NV, Teva Pharmaceutical Industries Ltd, Allergan Plc, Lannett Co., Impax Laboratories Inc., Sun Pharmaceutical Industries Ltd., Mayne Pharma Group Ltd., Endo International Plc and Taro Pharmaceutical Industries Ltd.
On this news, Teva stock fell $4.13 per share, or nearly 10%, to close at $39.20 per share on November 3, 2016.
If you purchased shares of Teva during the Class Period you may move the Court no later than January 5, 2017 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 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://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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