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Shareholder Class Action Filed Against Taro Pharmaceutical Industries Ltd.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Taro Pharmaceutical Industries Ltd. (“Taro”) (NYSE: TARO) securities between July 3, 2014 and September 9, 2016, both dates inclusive (the “Class Period”).


Taro investors may receive additional information about the case by clicking the link "Join this Class Action" above.              

   
According to the complaint, Taro is a pharmaceutical company that offers prescription and over-the-counter pharmaceutical products focusing on primary areas, including topical creams and ointments, liquids, capsules, and tablets in the dermatological and topical, cardiovascular, neuropsychiatric, and anti-inflammatory therapeutic categories.

The complaint alleges that during the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) since 2014, Taro has colluded with other pharmaceutical companies to keep the price of generic products artificially high; (2) the foregoing conduct violated federal antitrust laws; (3) in turn, Taro’s revenues during the Class Period were the result of illegal conduct; and (4) as a result, Taro’s public statements were materially false and misleading at all relevant times.

According to the complaint, on September 9, 2016, the company filed a Form 6-K with the SEC announcing that its subsidiary, Taro USA, received a subpoena from the U.S. Department of Justice, Antitrust Division, “seeking documents relating to corporate and employee records, generic pharmaceutical products and pricing, communications with competitors and others regarding the sale of generic pharmaceutical products.”

Following this news, shares of Taro fell $4.94 per share, or almost 4% from its previous closing price, to close at $119.42 per share on September 12, 2016, the following trading day (incorrectly reported as September 23, 2016 in the complaint).

On October 17, 2016, NECA-IBEW Welfare Trust Fund, an employee health and welfare benefit fund, filed an antitrust class action lawsuit in the U.S. District Court for the Southern District of New York against Taro, Taro USA, and several other pharmaceutical companies alleging that they engaged in the price-fixing of Clobetasol since 2014 in violation of the U.S. antitrust laws.

If you are a member of the class described above, you may no later than December 26, 2016 move the Court to serve as lead plaintiff of the class, if you so choose.  

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and sale transaction(s) for CTaro Pharmaceutical Industries Ltd. (“Taro”) (NYSE: TARO) securities between July 3, 2014 and September 9, 2016, both dates inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of Taro Pharmaceutical Industries Ltd. prior to the class period?
Are you a current or former employee of Taro Pharmaceutical Industries Ltd.?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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