Mylan N.V. Securities Litigation (2020)

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Lawsuit Overview

Defendant:Mylan N.V.
Date Filed:June 26th, 2020
Sector:Health Care
Industry:Major Pharmaceuticals
Class Start Date:February 16th, 2016
Class End Date:May 7th, 2019

According to the Complaint, Mylan N.V. is the second largest generic drug manufacturer in the world with roughly 55 manufacturing and R&D facilities globally. Mylan's largest U.S. manufacturing facility is located in Morgantown, West Virginia. At the start of the Class Period, the facility manufactured approximately 17 billion doses of medication every year, comprising 85% of all medicine Mylan sold in the United States in 2016.

The Complaint alleges that during the Class Period, Defendants made materially false and misleading statements and omissions, including statements regarding Mylan's Morgantown plant, and engaged in a scheme to deceive the market. As a result, the Complaint alleges that the price of Mylan common stock was artificially inflated. Later, when Defendants' prior misrepresentations and risks concealed by the fraudulent conduct, alleged in the Complaint, materialized and were disclosed to the market, the price of Mylan common stock fell precipitously. As a result of their acquisition of Mylan common stock during the Class Period—and Defendants' alleged misstatements and omissions—Plaintiff and other members of the Class suffered economic loss, i.e., damages, under the federal securities laws.

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First Identified Complaint

Public Employees' Retirement System of Mississippi, et al. v. Mylan N.V., et al.

Date Filed:June 26th, 2020
Class Period Start:February 16th, 2016
Class Period End:May 7th, 2019
First Identified Complaint Filings
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