According to the Complaint, Teligent, Inc. researches, develops, produces, supplies, and sells generic pharmaceutical products.

The Complaint alleges that during the Class Period, Defendants violated provisions of the Exchange Act by issuing false and misleading statements to investors, including in filings with the U.S. Securities and Exchange Commission. The Complaint alleges that specifically, Defendants made false and/or misleading statements regarding, and/or failed to disclose, product non-conformities in research and development and non-compliance with applicable regulations.

On July 1, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on September 13. On December 9, Lead Plaintiff filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on January 31, 2020. On June 17, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

On January 7, 2021, the Court issued an Order consolidating cases. All future docketing was ordered to be done in the lead case 19-CV-03354.

The parties entered into a Stipulation and Agreement of Settlement on July 14, 2021. On July 20, the Court granted preliminary approval of the Settlement. On December 1, the Court granted final approval of the Settlement and entered Final Judgment.

The Court issued an Order authorizing distribution of the net Settlement fund on October 18, 2022. On October 31, the Court issued an amended distribution Order.