An investor in NASDAQ:ENDP shares filed a lawsuit against Endo International plc over alleged Securities Laws violations in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Endo International plc (NASDAQ:ENDP) have certain options and for certain investors are short and strict deadlines running. Deadline: July 25, 2016. NASDAQ:ENDP investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that between March 2, 2015 and May 6, 2016 the Defendants made certain allegedly false and/or misleading statements and/or allegedly failed to disclose that Endo Pharmaceuticals’ arrangements with pharmacy benefit managers with respect to the migraine therapy Frova included questionable incentives intended to increase sales revenues, that consequently, Endo’s revenues and revenue projections relied in part on unsustainable arrangements, and that as a result of the foregoing, Defendants’ statements about Endo’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On May 5, 2016, Endo International plc filed a Report with the SEC and issued a press release announcing the Company’s financial and operating results for the quarter ended March 31, 2016 (the “Q1 2015 Earnings Release”). In the Q1 2015 Earnings Release, Endo International plc reported a loss of $0.40 per diluted share, down from earnings of $0.11 per share in the first quarter of 2015. Additionally, Endo International plc significantly cut its 2016 guidance, announcing targeted revenue in the range of $3.87 billion and $4.03 billion, down from the range of $4.32 billion to $4.52 billion that the Company had reaffirmed in March, less than two months earlier. Concurrently, Endo International plc announced changes to its board and management structure, including the resignation of Brian Lortie, President of the Company’s U.S. Branded Pharmaceuticals segment, pending selection of his replacement. Shares of Endo International plc – Ordinary Shares (NASDAQ:ENDP) declined from as high as $94.46 per share in April 10, 2015 to as low as $12.56 per share on May 12, 2016.
Those who purchased NASDAQ:ENDP shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com