NEW YORK--(BUSINESS WIRE)--
Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, announces that a securities class action has been filed against Teva Pharmaceutical Industries Ltd. (“Teva” or the “Company”) (NYSE:TEVA) and certain of its officers and directors. If you purchased Teva American Depository Shares (“ADS”) on the NYSE between November 15, 2016 and August 2, 2017, you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for more information.
Teva is a pharmaceutical company engaged in developing, producing and marketing generic medicines and a portfolio of specialty medicines.
The lawsuit alleges that the defendants misled investors regarding Teva’s business, financial results and operations by, among other things, failing to disclose and actively concealing the negative impact of the Company’s acquisition and integration of Actavis Generics.
On August 3, 2017, Teva announced lower than anticipated second quarter results due to the performance of its U.S. generics business. The Company further recorded a goodwill impairment charge of $6.1 billion in the second quarter of 2017 related to the Company’s acquisition of Actavis. Teva also indicated that its U.S. generics business, due to “accelerated price erosion” and delays in generic launches, was a key factor in lowering Teva’s future guidance and cutting its dividend by 75%.
On this news, the price of Teva ADS dropped from the closing price of $31.25 on August 2, 2017 to a new 52-week-low closing price of $20.60 per ADS on August 4th, a decline of more than one-third. The price has continued to fall and is currently trading before $16 per ADS.
What You Can Do
If you purchased Teva ADS between November 15, 2016 and August 2, 2017 and you wish to discuss this lawsuit, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at [email protected]. The deadline to move for Lead Plaintiff status is October 23, 2017.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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