Haeggquist & Eck, LLP is Investigating Claims Against Perrigo’s Directors & Officers for Breach of Fiduciary Duty Concernin...
September 19 2018 - 9:00AM
Business Wire
Haeggquist & Eck, LLP, a leading shareholder rights
litigation firm, is investigating whether directors and officers of
Perrigo Company plc (“Perrigo”) (NYSE: PRGO) breached their
fiduciary duties to Perrigo and its shareholders. If you are a
Perrigo shareholder, you are encouraged to contact Amber
Eck at Haeggquist & Eck for additional information.
Perrigo, together with its subsidiaries, develops, manufactures,
markets, and distributes over-the-counter consumer goods and
pharmaceutical products worldwide. On February 27, 2017, during
aftermarket hours, Perrigo disclosed the resignation of its Chief
Financial Officer and that it would not timely file its 2016 annual
financial statements. Perrigo further disclosed that its
independent auditors were evaluating Perrigo’s historical revenue
recognition regarding its multiple sclerosis prescription
medication, Tysabri. Perrigo could not provide assurance that it
would not need to restate its financial statements. On this news,
Perrigo shares fell sharply during intraday trading on February 28,
2017.
In May 2017, Perrigo announced that its offices had been raided
by the Department of Justice as part of a criminal price-fixing
probe, and that Perrigo was required to restate earnings, conceding
in a May 22, 2017 restatement that the balance sheets it disclosed
prior to, during, and after fighting Mylan’s tender offer should
have recorded billions of dollars of deteriorating fair values for
the Tysabri royalty stream.
In August 2018, Humana, Inc., one of the nation’s largest health
insurance companies, sued Perrigo for engaging in a price-fixing
scheme to manipulate the prices of generic drugs. The complaint
alleges that Perrigo conspired with other pharmaceutical companies
“to manipulate the relevant markets, allocate these markets among
themselves, and obstruct generic competition.”
What You Can Do
If you are a Perrigo shareholder, you may have legal claims
against its directors and officers. If you wish to discuss your
legal rights, please contact attorney Amber Eck at
619-342-8000 or ambere@haelaw.com.
Haeggquist & Eck, LLP is a nationally recognized leader
in shareholder rights law. The firm represents individual investors
in shareholder derivative lawsuits, and members of the firm have
helped shareholders recover more than $1 billion of value for
themselves and the companies in which they have invested.
This release constitutes attorney advertising. Past results do
not guarantee a similar outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20180919005217/en/
Haeggquist & Eck, LLPAmber L. Eck,
619-342-8000ambere@haelaw.com
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