LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Teva Pharmaceutical Industries Ltd. To Contact The Firm
NEW YORK, Sept. 20, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Teva Pharmaceutical Industries Ltd. ("Teva" or the "Company") (NYSE: TEVA) of the October 23, 2017 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Teva American Depositary Shares ("ADSs") on the New York Stock Exchange ("NYSE") between November 15, 2016 and August 2, 2017 and would like to discuss your legal rights, click here: www.faruqilaw.com/TEVA. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn:Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Eastern District of Pennsylvania on behalf of all those who purchased Teva ADSs on the NYSE and/or common stock on the Tel Aviv Stock Exchange ("TASE") between November 15, 2016 and August 2, 2017 (the "Class Period").The case, Grodko v. Teva Pharmaceutical Industries LTD., et al., No. 2:17-cv-03743 was filed on August 21, 2017, and has been assigned to Judge Paul Steven Diamond.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by, among other things, failing to disclose the negative impact on the Company's financial results and prospects that resulted from the acquisition and integration of Actavis Generics ("Actavis").
Specifically, on August 3, 2017, the Company announced lower than expected second quarter financial results due to the performance of its U.S. generics business. Furthermore, the Company recorded a $6.1 billion goodwill impairment charge related to the Company's acquisition of Actavis. Lastly, the Company lowered its future guidance and cut its dividend by 75%, citing "accelerated price erosion" and delays in U.S. generic launches as key factors in this decision.
After the announcement, Teva's ADS price fell from $31.25 per share on August 2, 2017 to a closing price of $20.60 on August 4, 2017-a $10.65 or a 34.08% drop over two trading days.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Teva's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
View original content with multimedia:http://www.prnewswire.com/news-releases/lead-plaintiff-deadline-alert-faruqi--faruqi-llp-encourages-investors-who-suffered-losses-exceeding-100000-in-teva-pharmaceutical-industries-ltd-to-contact-the-firm-300523226.html
SOURCEFaruqi & Faruqi, LLP
