BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that acquired Perrigo Company plc (“Perrigo” or the “Company”) (NYSE: PRGO) securities between November 8, 2018 and December 21, 2018, inclusive (the “Class Period”). Perrigo investors have until March 4, 2019 to file a lead plaintiff motion.
On December 21, 2018, Perrigo disclosed that it had received an audit finding letter from the Irish tax authorities stating “that IP sales transactions… including the sale of Tysabri®, were not part of the trade of Elan Pharma and therefore should have been treated as chargeable gains subject to an effective 33% tax rate, rather than the 12.5% tax rate applicable to trading income.” While the Company had disclosed on November 8, 2018 to investors that it had received the audit finding letter, it did not disclose further material details from the aforementioned letter.
On this news, Perrigo’s share price fell $15.33 per share, or more than 29%, to close at $37.03 per share on December 21, 2018, thereby injuring investors.
The complaint filed in this class action alleges that during the Class Period, the Company misled investors by failing to disclosed material information contained in the Irish tax authorities’ letter.
If you purchased shares of Perrigo, 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.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.