ENDO INTERNATIONAL INVESTOR ALERT: Hagens Berman Reminds Endo International plc (NASDAQ: ENDP) Investors of July 25, 2016 Lead Plaintiff Deadline in Securities Class Action

Loading...
Loading...

SAN FRANCISCO, June 21, 2016 (GLOBE NEWSWIRE) -- The following statement is being issued by Hagens Berman Sobol Shapiro LLP:

To: All persons or entities who purchased or otherwise acquired securities of Endo International plc ("Endo" or the "Company") ENDP between March 2, 2015 and May 6, 2016.

You have until July 25, 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.

If you suffered $100,000 or more in losses in Endo, contact Hagens Berman Sobol Shapiro LLP partner Reed Kathrein, who is leading the firm's investigation by calling 510-725-3000, emailing ENDP@hbsslaw.com or visiting https://www.hbsslaw.com/cases/ENDP.

Endo announced on May 5, 2016, that its President of U.S. Branded Pharmaceuticals segment (Brian Lortie) resigned.  The Company also reported a loss for the quarter ended March 31, 2016 and sharply reduced its targeted revenue guidance from that given just two months before.  On this news, the price of Endo's common stock fell 39.19% to $16.17 per share on May 6, 2016.

"Something is not right here," TheStreet's Jim Cramer said in CNBC'S "Squawk on the Street" on the morning of May 5, 2016.  "I'm going to put [Endo] in a puzzle category."  CNBC's "Market Insider" reported, "Endo shares are on pace for its worst daily performance since June 2002 when it fell more than 46 percent […] [s]hares have lost more than half their value so far this year."

The next day, Endo disclosed that in March 2016 it received a Civil Investigative Demand from the U.S. Attorney's Office for the Southern District of New York.  The U.S. Attorney requested documents and information regarding contracts with Pharmacy Benefit Managers ("PBMs"), which administer drug benefits for employers and health insurers. On this news, the price of Endo's common stock fell 5.7% to close at $15.27 on May 9, 2016.

"We're focused on a variety of Endo-related facts, in addition to the U.S. Attorney's investigation, Lortie's abrupt resignation, and the sharply reduced revenue guidance," said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding Endo International should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email ENDP@hbsslaw.com.

About Hagens Berman

Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm's Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact: Reed Kathrein, 510-725-3000

Loading...
Loading...
Posted In: Press Releases
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...