Class action lawsuit filed on behalf of investors in Teva
Complaint alleges Teva failed to disclose the poor performance of its US generics business and the subsequent goodwill impairment charge stemming from the company’s purchase of Actavis Generics.
Holzer & Holzer, LLC has announced that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Teva Pharmaceutical Industries Ltd (“Teva” or the “Company”) American Depositary Shares (“ADSs”) on the New York Stock Exchange and/or common stock on the Tel Aviv Stock Exchange (“TASE”) between 15 November 2016 and 2 August 2017. The complaint alleges Teva issued false and misleading statements during that time.
Specifically, the Complaint alleges Teva failed to disclose the poor performance of its U.S. generics business and the subsequent goodwill impairment charge stemming from the Company’s purchase of Actavis Generics. On 3 August 2017, Teva announced a $6.1 million goodwill impairment charge in the second quarter of 2016. The price of Teva common stock has declined following the report.
The case is pending in the United States District Court for the Eastern District of Pennsylvania and the deadline to move for appointment as lead plaintiff is 23 October 2017.
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