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Taro Pharmaceutical Industries Ltd. (TARO)

NYSE:TARO

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Taro Pharmaceutical Industries Ltd. To Contact The Firm Before Imminent Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Taro Pharmaceutical Industries Ltd. (“Taro” or the “Company”) (NYSE:TARO) of the December 27, 2016 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 Southern District of New York on behalf of all those who purchased Taro securities between July 3, 2014 and September 9, 2016 (the “Class Period”).  The case, Speakes et al v. Taro Pharmaceutical Industries, Ltd. et al, No. 1:16-cv-08318 was filed on October 25, 2016, and has been assigned to Judge Andrew Lamar Carter Jr.

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: (1) that Taro, since 2014,  colluded with pharmaceutical companies to keep the price of generic products artificially high; (2) the aforementioned conduct violated federal antitrust laws; (3) sequentially, Taro’s revenues during the Class Period were the result of illegal conduct; and (4) as a result, Taro’s public statements were materially false and misleading.

Specifically, on September 9, 2016, the Company filed a Form 6-K with the Securities and Exchange Commission (“SEC”) announcing that its subsidiary, Taro USA, received a subpoena from the U.S. Department of Justice, Antitrust Division relating to corporate and employee records, generic pharmaceutical products and pricing, communications with competitors and others regarding the sale of generic pharmaceutical products, and certain other related matters.

On this news, Taro’s share price fell from $124.36 per share on September 9, 2016 to a closing price of $119.42 on September 12, 2016 —a $4.94 or a 3.97% drop.

Take Action

If you invested in Taro stock or options between July 3, 2014 and September 9, 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 Taro’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:
    Taro Pharmaceutical Industries Ltd. (TARO)
  •    

* 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:

  • 12/19/2016

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