According to the law firm press release, the Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Endo Pharmaceuticals’ arrangements with PBMs with respect to the migraine therapy Frova included questionable incentives intended to increase sales revenues; (ii) consequently, Endo’s revenues and revenue projections relied in part on unsustainable arrangements; and (iii) as a result of the foregoing, Defendants’ statements about Endo’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On August 19, 2016, the Court appointed Lead Plaintiff and Counsel. Lead Plaintiff filed an amended complaint on October 5, 2016.
A third amended complaint was filed on November 16.