On November 3, 2023, Judge Karen S. Marston of the District Court for the Eastern District of Pennsylvania granted class certification in a securities action against Teva Pharmaceuticals Industries Limited (“Teva”) and certain of its officers and directors, approved Lead Plaintiff Gerald Forsythe as Class Representative and Lead Counsel Faruqi & Faruqi, LLP as Class Counsel.
In the decision on the hotly contested class certification motion, for which the Court held an evidentiary hearing with the parties’ expert witnesses, the Court rejected Defendants’ arguments and certified the following class:
All persons or entities who purchased or otherwise acquired Teva securities between October 29, 2015 and August 18, 2020, inclusive, and were damaged thereby. Excluded from the Class are the Defendants; the officers, directors, and affiliates of Teva, at all relevant times; Teva’s employee retirement or benefit plan(s) and their participants or beneficiaries to the extent they purchased or acquired Teva securities through any such plan(s); any entity in which Defendants have or had controlling interest; immediate family members of any excluded person; and the legal representatives, heirs, successors, or assigns of any excluded person or entity.
The case is Halman Aldubi Provident and Pension Funds Ltd. v. Teva Pharmaceuticals Industries Limited, et al., Case No. 20-cv-4660-KSM (E.D. Pa.). A copy of the Order and Memorandum may be found here.