IRVINE, Calif.--(BUSINESS WIRE)--
Khang & Khang LLP (the “Firm”) announces the filing of a class action lawsuit against Taro Pharmaceutical Industries Ltd. (“Taro” or the “Company”) (NYSE: TARO). Investors, who purchased or otherwise acquired shares between July 3, 2014 and September 9, 2016 inclusive (the “Class Period”), are encouraged to contact the Firm before the December 27, 2016 lead plaintiff motion deadline.
If you purchased Taro shares during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at [email protected].
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The complaint alleges that Taro made false and misleading statements and/or failed to disclose that: since 2014 the Company has worked with other pharmaceutical companies to keep the price of generic products artificially high; that the foregoing behavior violated federal antitrust laws; that Taro’s revenues during the Class Period were the result of illegal conduct; and that as a result of the above, the Company’s public statements were materially false and misleading at all relevant times. On September 9, 2016, the Company announced that its subsidiary and two senior officers received grand jury subpoenas from the U.S. Department of Justice, Antitrust Division, seeking documents regarding the sale of generic pharmaceutical products. When this information was disclosed, shares of Taro dropped in value. Then on October 17, 2016, NECA-IBEW Welfare Trust Fund filed an antitrust class action lawsuit against Taro and several other pharmaceutical companies alleging involvement in the price-fixing of Clobetasol since 2014.
If you wish to learn more about this lawsuit at no charge, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in some jurisdictions.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161027007032/en/
