NEW YORK--(BUSINESS WIRE)--
Zamansky LLC announces that it has commenced an investigation of Allergan plc (NYSE: AGN)(“Allergan”) on behalf of its current and former employees over the Allergan Savings and Investment Plan (the “Plan”) for potential violations of the federal Employee Retirement Income Security Act (“ERISA”). ERISA imposes fiduciary duties to prudently manage and invest plan assets. We are investigating whether these duties were violated by the continued offering of Allergan stock from June 15, 2015 through November 3, 2016 as an investment option for employees under the Plan.
On November 4, 2016, a securities class action lawsuit was filed against Allergan, Actavis and certain officers, following news of an investigation by the U.S. Department of Justice for alleged violation of federal antitrust laws. The lawsuit alleges that Allergan colluded with Actavis plc which it acquired in 2015, and other competitors, to fix the prices of various generic drugs, and that it misled investors about its alleged activities. The lawsuit alleges that Allergan’s stock was artificially inflated due to the alleged price collusion, and that it corrected as the truth slowly came out.
According to employee stock and investment fraud attorney, Jake Zamansky, current or former Allergan employees who purchased and held Allergan stock through the Plan from June 2015 through November 2016 may have had their retirement savings damaged. The allegations about Allergan’s antitrust investigation raise serious issues whether the Plan’s fiduciaries properly executed their duties under ERISA, he states. ERISA is designed to protect employees’ retirement savings from imprudent and inappropriate investments, Zamansky states.
What Current and Former Allergan Employees Can Do
If you are an existing or former Allergan employee who purchased and held Allergan stock from June 2015 through November 2016 through the Allergan Savings and Investment Plan, please contact our firm for an evaluation of your rights. You can contact Jake Zamansky by telephone at (212) 742-1414 or by email at [email protected].
About Zamansky LLC
Zamansky LLC is a leading stock law firm specializing in securities fraud, ERISA and employment class actions. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161118005790/en/
