NEW YORK, Nov. 18, 2016 /PRNewswire/ -- Pomerantz LLP
announces that a class action lawsuit has been filed against Endo
International plc ("Endo" or the "Company") (NASDAQ: ENDP)
and certain of its officers. The class action, filed in
United States District Court, Southern District of New York, and docketed under 16-cv-08645, is
on behalf of a class consisting of all persons or entities who
purchased or otherwise acquired Endo securities between
September 28, 2015 and November 2, 2016, both dates inclusive (the
"Class Period"), seeking to recover compensable damages caused by
defendants' violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased Endo securities during
the Class Period, you have until January 6,
2017 to ask the Court to appoint you as Lead Plaintiff for
the class. A copy of the Complaint can be obtained at
www.pomerantzlaw.com. To discuss this action, contact
Robert S. Willoughby at
rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll
free, ext. 9980. Those who inquire by e-mail are encouraged to
include their mailing address, telephone number, and number of
shares purchased.
[Click here to join this class action]
Endo develops, manufactures, and distributes pharmaceutical
products and devices worldwide. The Company's U.S. Generic
Pharmaceuticals segment provides tablets, capsules, powders,
injectables, liquids, nasal sprays, ophthalmics, and transdermal
patches for pain management, urology, central nervous system
disorders, immunosuppression, oncology, women's health, and
cardiovascular disease markets. Endo sells its branded
pharmaceuticals and generics directly, as well as through wholesale
drug distributors.
On September 28, 2015, Endo
announced that it had completed its $8.05
billion acquisition of Par Pharmaceutical Holdings, Inc.
("Par Pharmaceutical") from the private investment firm TPG.
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.
On November 3, 2016, media outlets
reported that U.S. prosecutors were considering filing criminal
charges by the end of 2016 against Par Pharmaceutical and several
other pharmaceutical companies for unlawfully colluding to fix
generic drug prices.
On this news, Endo's share price fell $3.54, or 19.48%, to close at $14.63 on November 3,
2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 80 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com
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SOURCE Pomerantz LLP