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Case Status:    DISMISSED    
On or around 12/06/2016 (Notice of voluntarily dismissal)

Filing Date: November 07, 2016

According to the law firm press release, Endo develops, manufactures, and distributes pharmaceutical products and devices worldwide. The Company’s U.S. Generic Pharmaceuticals segment provides tablets, capsules, powders, injectables, liquids, nasal sprays, ophthalmics, and transdermal patches for pain management, urology, central nervous system disorders, immunosuppression, oncology, women’s health, and cardiovascular disease markets. Endo sells its branded pharmaceuticals and generics directly, as well as through wholesale drug distributors.

On September 28, 2015, Endo announced that it had completed its $8.05 billion acquisition of Par Pharmaceutical Holdings, Inc. (“Par Pharmaceutical”) from the private investment firm TPG.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Endo’s subsidiary, Par Pharmaceutical, had colluded with several of its industry peers to fix generic drug prices; (ii) the foregoing conduct constituted a violation of federal antitrust laws; (iii) consequently, Endo’s revenues during the Class Period were in part the result of illegal conduct; and (iv) as a result of the foregoing, Endo’s public statements were materially false and misleading at all relevant times.

On November 3, 2016, media outlets reported that U.S. prosecutors were considering filing criminal charges by the end of 2016 against Par Pharmaceutical and several other pharmaceutical companies for unlawfully colluding to fix generic drug prices.

On this news, Endo’s share price fell $3.54, or 19.48%, to close at $14.63 on November 3, 2016.

This action was voluntarily dismissed on December 6, 2016.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Major Drugs
Headquarters: Ireland

SECURITIES INFORMATION:

Ticker Symbol: ENDP
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 16-CV-08645
JUDGE: Hon. Kimba M. Wood
DATE FILED: 11/07/2016
CLASS PERIOD START: 09/28/2015
CLASS PERIOD END: 11/02/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date