The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Mylan NV Investors
December 01 2016 - 01:34PM
Business Wire
Law Offices of Howard G. Smith announces that a class
action lawsuit has been filed on behalf of investors who purchased
Mylan N.V. (“Mylan” or the “Company”) (NASDAQ: MYL) securities
between February 28, 2013 and October 7, 2016, inclusive
(the “Class Period”). Mylan investors have until December
12, 2016 to file a lead plaintiff motion.
Investors suffering losses on their Mylan 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 howardsmith@howardsmithlaw.com.
The complaint filed in this lawsuit 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: (1) Mylan paid Medicaid
significantly lower EpiPen rebates than legally required; (2)
Medicaid had previously advised Mylan of the Company’s obligation
to pay higher rebates; (3) Mylan therefore knowingly and
systemically overcharged Medicaid for EpiPens in violation of
federal law; (4) millions of dollars of Mylan’s revenue from EpiPen
sales were the result of the foregoing illegal conduct by the
Company; and (5) consequently, Mylan’s public statements were
materially false and misleading at all relevant times.
Note: Mylan has said it agreed to pay $465 million to settle
allegations that it overbilled Medicaid for EpiPen. At issue was
whether the product should have been classified as generic under a
Medicaid program.
The chairman of the Senate Judiciary Committee, Sen. Charles
Grassley, recently said he is considering a subpoena or another
method of compelling testimony from the pharmaceutical company
Mylan, the Justice Department and the federal Centers for Medicare
and Medicaid Services in connection with the settlement.
If you purchased shares of Mylan during the Class Period you may
move the Court no later than December 12, 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 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 howardsmith@howardsmithlaw.com, 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20161201006196/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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