NEW YORK, Nov. 16, 2016 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Taro Pharmaceutical Industries Ltd. (“Taro” or the “Company”) (NYSE: TARO ) and certain of its officers. The class action is on behalf of a class consisting of all persons or entities who purchased Taro securities between July 3, 2014 through September 9, 2016, inclusive (the “Class Period”).
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) since 2014 Taro Pharmaceutical has conspired together with other pharmaceutical companies to artificially inflate the price of generic products; (2) the abovementioned collusion violated federal antitrust laws; (3) consequently, Taro Pharmaceutical’s revenues during the Class Period were the result of illegal conduct; and (4) therefore, Taro’s public statements were materially false and misleading at all relevant times.
On September 9, 2016, Taro revealed that it and two of its senior officers received grand jury subpoenas from the United States Department of Justice, Antitrust Division, in connection with a federal antitrust investigation into generic drug pricing. Then on October 17, 2016, NECA-IBEW Welfare Trust Fund filed an antitrust class action lawsuit against Taro and several other pharmaceutical companies alleging involvement in the price-fixing of Clobetasol since 2014 in violation of the U.S. antitrust laws.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/taro or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com . Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Taro you have until December 26, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com
