According to the Form 10-Q for the quarterly period ended September 30, 2000, the Company's motion to dismiss the federal securities case was granted on December 22, 1999. The decision was affirmed on appeal.
According to the same 10-Q filing, the class-action was filed in connection with the Federal Trade Commission's 1998 lawsuit, alleging the Company engaged
in restraint of trade, monopolization, attempted monopolization and conspiracy
to monopolize arising out of certain agreements involving the supply of raw
materials used to manufacture two drugs.
The Complaint asserts claims under the federal securities laws, including claims for violation of Section 10(b) and 20 (a) of the Securities Exchange Act of 1934 and Rule 10b-5 of the Securities Exchange Commission, by reason of issuance of certain material facts and omissions in statements concerning Mylan business practices, earnings and profitability that were contained in public press releases and filings with the SEC rendering these statements false and misleading. As a result of these false and misleading statements, the market price of Mylan common stock was artificially inflated during the Class Period.