NEW YORK, NY / ACCESSWIRE / December 27, 2017 / Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Endo International, Plc. ("Endo International" or the "Company") (NASDAQ: ENDP) of the January 16, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Endo International stock or options between September 28, 2015 and February 28, 2017 and would like to discuss your legal rights, click here: www.faruqilaw.com/ENDP. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
The lawsuit has been filed in the U.S. District Court for the Eastern District of Pennsylvania on behalf of all those who purchased Endo International securities between September 28, 2015 and February 28, 2017 (the "Class Period"). The case, Pelletier v. Endo International, Plc., No 2:17-cv-05114 was filed on November 14, 2017.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (i) Par Pharmaceutical had colluded with several of its industry peers to fix generic drug prices; (ii) the conduct constituted a violation of federal antitrust laws; (iii) the competitive advantages of the Par Pharmaceutical Acquisition were derived in part from Par Pharmaceutical's illegal conduct; (iv) for the same reasons, the "impressive track record of delivering strong operating results" that Endo attributed to Campanelli in announcing his promotion to Endo's CEO consisted in part of illegal conduct; (v) for the foregoing reasons, Endo's revenues during the Class Period were in part the result of illegal conduct and likewise unsustainable; and (vi) as a result of the foregoing, Endo's public statements were materially false and misleading at all relevant times.
Specifically, on November 3, 2016, media outlets reported that U.S. prosecutors were considering filing criminal charges by the end of 2016 against Par Pharmaceutical and several other pharmaceutical companies for unlawfully colluding to fix generic drug prices.
Then, on March 1, 2017, Endo filed an Annual Report on Form 10-K with the SEC, reporting in full the Company's financial and operating results for the quarter and year ended December 31, 2016. Reflecting the extent to which Par Pharmaceutical's unlawful conduct had previously inflated Endo's revenues.
After the announcements, Endo International's share price fell significantly.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Endo International's conduct to contact the firm, including whistleblowers, former employees, shareholders, and others.
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SOURCE: Faruqi & Faruqi, LLP
