||Taro Pharmaceutical Industries Ltd
||United States District Court for the Southern District of New York
||The Hon. Andrew L. Carter, Jr.
||Between July 2, 2014 and November 3, 2016
On October 25, 2016, the initial complaint in this securities class action was filed against Taro Pharmaceutical Industries Ltd. (“Taro”), and certain of Taro’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act. Lead Plaintiff alleges that defendants made false and misleading statements, causing investors to reasonably assume that Taro’s sales figures relating to its generic drugs were an accurate representation of the success of Taro’s products in a competitive market. Lead Plaintiff further alleges that those sales figures were inflated as a result of Taro’s anti-competitive conduct and did not reflect the sales Taro would have been able to achieve absent its price-fixing activity.
Current Status of Case:
Pursuant to a stipulation ordered by the Court on April 17, 2019, fact discovery in this action is presently coordinated with discovery in the multidistrict litigation, captioned In re Generic Pharmaceuticals Pricing Antitrust Litigation, No. 2:16-md-2724 however, this action is otherwise stayed. Fact discovery remains ongoing in the multidistrict litigation.
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