According to the Complaint, on May 18, 2015, Endo announced that it would be expanding its Generic division with the acquisition of Par Pharmaceuticals ("Par"), a pharmaceutical company with a large portfolio of generic drugs. In order to finance part of the $8.05 billion acquisition price, the Company announced that it would be conducting a secondary public offering. On June 2, 2015, the Company announced an underwritten public offering of $1.75 billion of ordinary shares, later increased to $2 billion, to finance the acquisition (the "Offering").
On June 4, 2015, the Company issued a Prospectus Supplement in connection with the offering and announced the offering price of $83.25 per share. The Prospectus Supplement updated and formed part of the Registration Statement on Form S-3 (File. No. 333-204657) and Prospectus issued by the Company on June 2, 2015 (collectively, with the Prospectus Supplement, the "Registration Statement").
The Complaint alleges Plaintiff and the Class were unaware that the Registration Statement contained untrue statements of then-present material fact and failed to disclose material information and negative trends about Endo's Generic division required by SEC regulations.