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Case Status:    ONGOING    
On or around 10/01/2020 (Date of last review)

Filing Date: September 23, 2020

According to the Complaint, Teva Pharmaceutical Industries Limited purports to develop, manufacture, market, and distribute generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, and internationally.

Among Teva's products is Copaxone (glatiramer acetate), a prescription drug that is used to treat relapsing forms of multiple sclerosis. Throughout the Class Period, Teva consistently described Copaxone as the Company's "leading specialty medicine," reporting Copaxone sales and revenues that consistently dwarfed the same metrics for other Teva specialty products.

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, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Teva had made substantial illegal kickback payments to charitable foundations to cover Medicare co-payment obligations of patients taking Copaxone; (ii) accordingly, Teva's revenues derived from Copaxone were in part the product of unlawful conduct and thus unsustainable; (iii) the foregoing misconduct subjected Teva to a foreseeable risk of heightened regulatory scrutiny and enforcement, as well as reputational harm when the truth became known; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Major Drugs
Headquarters: Israel

SECURITIES INFORMATION:

Ticker Symbol: TEVA
Company Market: New York SE
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: E.D. Pennsylvania
DOCKET #: 20-CV-04660
JUDGE: Hon. Jan E. DuBois
DATE FILED: 09/23/2020
CLASS PERIOD START: 10/29/2015
CLASS PERIOD END: 08/18/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kaskela Law LLC (Newtown Square)
  2. Pomerantz LLP (New York)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available