Taro Pharmaceutical Industries Ltd. (Nasdaq: TARO)
A class action has been filed in the United States District Court for the Southern District of New York. on behalf of purchasers of Taro Pharmaceutical Industries Ltd. (Nasdaq: TARO) common stock between July 3, 2014 and September 9, 2016, (the “Class Period”).
The complaint alleges that during the Class Period, Taro made false and/or 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, Taro 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 news was announced, shares of Taro fell in value. 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 are a current shareholder and purchased stock between July 3, 2014 and September 9, 2016, and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.
Please Note: Neither the submission to nor the receipt of information by The Law Offices of Marc S. Henzel or one of its attorneys through this website constitutes an agreement by the firm to represent the individual and does not create an attorney-client relationship.