NEW YORK, July 05, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Teva Pharmaceutical Industries Ltd. (“Teva” or the “Company”) (NYSE: TEVA) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Teva American Depositary Shares (“ADS”) between August 4, 2017 and May 10, 2019, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/teva.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) contrary to its public denials, Teva had in fact engaged in a vast, industry-wide price-fixing scheme and other collusive misconduct since at least 2012; (2) Teva was not only a participant, but the company at the heart of the anticompetitive scheme; and (3) several Teva employees had such deep involvement in the scheme that they would ultimately be named personally as defendants in a sweeping civil enforcement action filed by the AGs of virtually every state in the nation.
On December 9, 2018, it was revealed that the Connecticut State Attorney Generals’ investigation had increased to include 300 drugs and over 16 companies, divulging “the largest cartel in the history of the United States.” Following this news, the price of Teva ADS dropped $0.97 per share or 5%, to close at $18.44 on December 10, 2018. Then, on May 10, 2019, an alliance of 44 states filed an antitrust complaint exposing previously undisclosed facts about Teva’s participation in the generic drug price-fixing conspiracy. The complaint described Teva’s role as a “consistent participant” in the conspiracy, implementing price increases for more than 110 generic drugs and plotting with other drug companies for over 85 different generic drugs. Following this news, the price of Teva ADS dropped $2.13 per share or roughly 15%, to close at $12.23 on May 13, 2019.
If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/teva or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Teva you have until August 20, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org