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Teva Pharmaceutical Industries Ltd. (TEVA)

NYSE:TEVA

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Teva Pharmaceutical Industries Ltd. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Teva Pharmaceutical Industries Ltd. (“Teva” or the “Company”) (NYSE:TEVA) of the October 23, 2017 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 Teva American Depositary Shares (“ADSs”) on the New York Stock Exchange (“NYSE”) between November 15, 2016 and August 2, 2017 and would like to discuss your legal rights, please fill out the form below.  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 Teva ADSs on the NYSE and/or common stock on the Tel Aviv Stock Exchange (“TASE”) between November 15, 2016 and August 2, 2017 (the “Class Period”).  The case, Grodko v. Teva Pharmaceutical Industries LTD., et al., No. 2:17-cv-03743 was filed on August 21, 2017, and has been assigned to Judge Paul Steven Diamond.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by, among other things, failing to disclose the negative impact on the Company’s financial results and prospects that resulted from the acquisition and integration of Actavis Generics (“Actavis”).

Specifically, on August 3, 2017, the Company announced lower than expected second quarter financial results due to the performance of its U.S. generics business.  Furthermore, the Company recorded a $6.1 billion goodwill impairment charge related to the Company’s acquisition of Actavis.  Lastly, the Company lowered its future guidance and cut its dividend by 75%, citing “accelerated price erosion” and delays in U.S. generic launches as key factors in this decision.

After the announcement, Teva’s ADS price fell from $31.25 per share on August 2, 2017 to a closing price of $20.60 on August 4, 2017—a $10.65 or a 34.08% drop over two trading days.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Teva Pharmaceutical Industries Ltd. (TEVA)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 08/29/2017

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