LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Taro Pharmaceutical Industries Ltd. (“Taro Pharmaceutical” or the “Company”) (NYSE: TARO) securities between July 3, 2014 and September 9, 2016, inclusive (the “Class Period”). Taro Pharmaceutical investors have until December 26, 2016 to file a lead plaintiff motion.
Investors suffering losses on their Taro 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 firstname.lastname@example.org.
On September 9, 2016, Taro Pharmaceutical revealed that its subsidiary and two senior officers received grand jury subpoenas from the United States Department of Justice, Antitrust Division, seeking documents regarding the sale of generic pharmaceutical products. On this news, shares of Taro Pharmaceutical fell $4.94 per share or almost 4% to close at $119.42 per share on September 23, 2016.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) since 2014 Taro Pharmaceutical has colluded with other pharmaceutical companies to keep the price of generic products artificially high; (2) the foregoing conduct violated federal antitrust laws; (3) in turn, Taro Pharmaceutical's revenues during the Class Period were the result of illegal conduct; and (4) as a result, Taro Pharmaceutical's public statements were materially false and misleading at all relevant times.
If you purchased shares of Taro during the Class Period you may move the Court no later than December 26, 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 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 email@example.com, 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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