GPM Reminds Investors of the January 6th Deadline in the Class Action Lawsuit Against Endo International plc & Encourages Inv...
December 29 2016 - 10:30AM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the
January 6, 2017 deadline to file a lead plaintiff motion in
the class action lawsuit filed on behalf of investors who purchased
or otherwise acquired Endo International plc (“Endo” or the
“Company”) (NYSE: 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 or otherwise acquired Endo shares during the
Class Period, 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 Lesley Portnoy, Esquire,
of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California
90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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