On or around 12/30/2019 (Court's order of dismissal)
Filing Date: December 16, 2019
According to the Complaint, Mylan is a Dutch company with its global headquarters located in Pennsylvania, United States. Mylan began in 1961 as a privately-owned distributor for pharmacies and doctors. In 1965, Mylan relocated to Pennsylvania and in 1973, Mylan became publicly traded. In 2015, Mylan acquired Abbott Laboratories’ non-U.S. market specialties and branded generics business and became a public limited liability company in the Netherlands.
The Complaint alleges that during the Class Period, Mylan made false and/or misleading statements and/or failed to disclose that: (1) Mylan's Morgantown facility was in significant violation of the FDA's Current Good Manufacturing Practice regulations; (2) Mylan would need to engage in a massive restructuring and remediation program; (3) Mylan's North American Segment would be substantially impacted by said program, which would in turn materially impact Mylan's financial health; (3) Mylan lacked effective internal control over financial reporting; and (4) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.
This case was voluntarily dismissed on December 30, 2019.
Company & Securities Information
Defendant: Mylan N.V.
Industry: Biotechnology & Drugs
Headquarters: United Kingdom
Ticker Symbol: MYL
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.