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 Teva Pharmaceutical Industries Ltd. (“Teva” or the “Company”) (NYSE: TEVA) securities between November 15, 2016 and August 2, 2017, inclusive (the “Class Period”). Teva investors have until October 23, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Teva 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.
On August 2, 2016, Teva finalized its acquisition of Allergan plc’s generics business, Actavis Generis. Thereafter, Teva continued to make positive statements concerning the integration of the business, growth on intangible assets and goodwill, and general benefits of the acquisition. However, on August 3, 2017, Teva lowered its outlook and recorded a $6.1 billion impairment charge.
On this news, Teva’s stock price fell $7.50 per share, or 24%, to close at $23.75 on August 3, 2017, thereby injuring investors.
The complaint filed in this class action alleges that throughout the class period the Company issued materially false and/or misleading statements and/or failed to disclose adverse information concerning the Company’s business and outlook. Specifically, the complaint alleges that Teva failed to disclose the negative impact that the acquisition and integration of Actavis Generics was having on the Company’s financial results and business prospects.
If you purchased shares of Teva, 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 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 www.howardsmithlaw.com.
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