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Teva Pharmaceutical Industries Ltd. (TEVA)

NYSE:TEVA

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $250,000 Investing In Teva Pharmaceutical Industries Ltd. To Contact The Firm Before Imminent Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Teva Pharmaceutical Industries Ltd. (“Teva” or the “Company”) (NYSE:TEVA) of the January 5, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased American Depositary Shares (“ADSs”) of Teva between February 10, 2014 and November 3, 2016 (the “Class Period”).  The case, Leone v. Teva Pharmaceutical Industries Limited et al, No. 2:16-cv-09545 was filed on December 27, 2016.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failed to disclose that: (1) Teva and several industry peers colluded to fix generic drug prices; (2) this conduct constituted a violation of federal antitrust laws; (3) consequently, Teva’s revenues during the Class Period were in part, the result of illegal conduct; and (4) as a result, Teva’s public statements were materially false and misleading.

Specifically, on August 4, 2016, the Company filed a Form 6-K with the Securities and Exchange Commission, disclosing that the Company’s subsidiary, Teva USA, received two subpoenas relating to Teva’s pricing and marketing. 

On this news, Teva’s share price fell from $55.45 per share on August 4, 2016 to a closing price of $54.21 on August 5, 2016—a $1.24 or a 2.24% drop.

Then, on November 3, 2016, Bloomberg published the article “U.S. Charges inGeneric-Drug Probe to Be Filed by Year End” which discussed the DOJ’s two year investigation of suspected price collusion by several pharmaceutical companies.  The article includes Teva among the companies being investigated, and also states that the investigation will likely result in prosecutors filing criminal charges by the end of the year.

On this news, Teva’s share price fell from $43.33 per share on November 2, 2016 to a closing price of $39.20 on November 3, 2016—a $4.13 or a 9.53% drop.

Take Action

If you invested in Teva between February 10, 2014 and November 3, 2016 and would like to discuss your legal rights, please fill out the form below. 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.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Teva’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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:

  • 11/07/2016

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