Perrigo Company PLC Securities Litigation (2019)

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Lawsuit Overview

Defendant:Perrigo Company
Date Filed:January 3rd, 2019
Sector:Health Care
Industry:Major Pharmaceuticals
Class Start Date:March 1st, 2018
Class End Date:December 20th, 2018

Plaintiff's law firm issued a press release on January 3, 2019 announcing the filing of the Complaint. According to the press release, the Complaint alleges that on December 21, 2018, Perrigo issued a Form 8-K disclosing that the Company had received an audit finding letter from the Irish tax authorities on October 30, 2018 asserting "that IP sales transactions… including the sale of Tysabri®, were not part of the trade of Elan Pharma and therefore should have been treated as chargeable gains subject to an effective 33% tax rate, rather than the 12.5% tax rate applicable to trading income."

While Perrigo had disclosed the existence of the audit finding letter to investors on November 8, 2018, the Company failed to disclose material details associated with the audit finding letter at that time.

Following the publication of the December 21, 2018 8-K, Perrigo's stock price plunged almost 25%.

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First Identified Complaint

Charles Masih, et al. v. Perrigo Company PLC, et al.

Date Filed:January 3rd, 2019
Class Period Start:November 8th, 2018
Class Period End:December 20th, 2018
First Identified Complaint Filings
#Document TitleFiling Date