NEW YORK, Nov. 18, 2016 /PRNewswire/ -- Pomerantz LLP
announces that a class action lawsuit has been filed against Teva
Pharmaceutical Industries Ltd. ("Teva" or the "Company")
(NYSE: TEVA) and certain of its officers. The
class action, filed in United States District Court, Southern
District of New York, and docketed
under 16-cv-08747, is on behalf of a class consisting of all
persons or entities who purchased or otherwise acquired Teva
securities between February 10, 2014
and November 2, 2016, both dates
inclusive (the "Class Period"), seeking to recover compensable
damages caused by defendants' violations of the Securities Exchange
Act of 1934.
If you are a shareholder who purchased Teva securities during
the Class Period, you have until January 5,
2017 to ask the Court to appoint you as Lead Plaintiff for
the class. A copy of the Complaint can be obtained at
www.pomerantzlaw.com. To discuss this action, contact
Robert S. Willoughby at
rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll
free, ext. 9980. Those who inquire by e-mail are encouraged to
include their mailing address, telephone number, and number of
shares purchased.
[Click here to join this class action]
Teva develops, manufactures, markets, and distributes generic
medicines and a portfolio of specialty medicines worldwide.
Teva is the largest generic drug manufacturer in the world and one
of the 15 largest pharmaceutical companies worldwide.
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) Teva and several of its pharmaceutical
industry peers colluded to fix generic drug prices; (ii) the
foregoing conduct constituted a violation of federal antitrust
laws; (iii) consequently, Teva's revenues during the Class Period
were in part the result of illegal conduct; and (iv) as a result of
the foregoing, Teva's public statements were materially false and
misleading at all relevant times.
On November 3, 2016, media outlets
reported that U.S. prosecutors might file criminal charges by the
end of 2016 against Teva and several other pharmaceutical companies
for unlawfully colluding to fix generic drug prices.
On this news, Teva's ADR price fell $4.13, or 9.53%, to close at $39.20 on November 3,
2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 80 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP