| COMPANY |
Taro Pharmaceutical Industries Ltd. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
16-cv-8318 |
| JUDGE |
The Hon. Andrew L. Carter, Jr. |
| CLASS PERIOD |
July 2, 2014 -November 3, 2016 |
| SECURITY TYPE |
All Securities |
Case Background:
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:
On April 17, 2019, the Court ordered that fact discovery in this action shall be coordinated with discovery in the multidistrict litigation, captioned In re Generic Pharmaceuticals Pricing Antitrust Litigation, No. 2:16-md-2724 and stayed further litigation of this action until the anti-trust matter has concluded. Fact discovery remains ongoing in the multidistrict litigation.
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: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.