January 6 Deadline Alert: Law Offices of Howard G. Smith Reminds Endo International plc Investors of Upcoming Lead Plaintiff ...
31 December 2016 - 2:30AM
Business Wire
Law Offices of Howard G. Smith reminds investors of the
upcoming January 6, 2017 deadline to file a lead
plaintiff motion in the class action filed on behalf of investors
who purchased Endo International plc (“Endo” or the “Company”)
(NASDAQ: 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 Endo shares, 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 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/20161230005067/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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