BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming January 6, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Endo International plc (“Endo” or the “Company”) (NASDAQ: ENDP) securities between September 28, 2015 and November 2, 2016, inclusive (the “Class Period”). Endo investors have until January 6, 2017 to file a lead plaintiff motion.
Bloomberg News has reported that the U.S. Justice Department may file a complaint against the Company and other alleged co-conspirators for fixing generic drug prices. 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, Endo stock fell $6.25 per share, or nearly 27%, to close at $17.25 per share on November 3, 2016.
The Complaint 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: (i) Endo’s subsidiary, Par Pharmaceutical, had colluded with several of its industry peers to fix generic drug prices; (ii) the foregoing conduct constituted a violation of federal antitrust laws; (iii) consequently, Endo’s revenues during the Class Period were in part the result of illegal conduct; and (iv) as a result of the foregoing, Endo’s public statements were materially false and misleading at all relevant times.
Note: On December 14, 2016, the United States Justice Department accused two Heritage Pharmaceuticals, Inc. executives of colluding with other generic pharmaceutical companies to fix prices, the first criminal charges stemming from a sweeping criminal investigation into alleged price fixing by over a dozen generic drug companies.
If you purchased Endo shares, you may move the Court no later than January 6, 2017 to request appointment as lead plaintiff. 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 firstname.lastname@example.org, 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.