NEW YORK, NY--(Marketwired - Jan 3, 2017) - Abraham, Fruchter & Twersky, LLP has filed a class action lawsuit in the United States District Court for the Southern District of New York against Allergan plc ("Allergan") and certain of its current or former officers. The case is titled Rosenberg v. Allergan PLC, et al., No. 17-00025. The class action is filed on behalf of all those who purchased Allergan common stock between February 25, 2014 and November 2, 2016, inclusive (the "Class Period"). It seeks to recover damages against the defendants for violations of the federal securities laws.
Allergan is an Ireland-based specialty pharmaceuticals company that develops, manufactures, markets and distributes medical aesthetics, biosimilar and over-the-counter pharmaceutical products worldwide. It has operations in more than 100 countries. The Complaint alleges that defendants made materially false and misleading statements regarding the business and operations of Allergan in violation of sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Specifically, while Defendants made statements about the Company's business strategy and its financial results, as was subsequently revealed, it was likely that the U.S. Department of Justice was going to file criminal charges against Allergan and several other pharmaceutical companies for unlawfully colluding to fix generic drug prices. Once this information was disclosed to the market, the price of the Allergan's stock dropped precipitously.
If you are a shareholder who purchased Allergan common stock during the Class Period, you have until January 3, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. To discuss this action, please contact firstname.lastname@example.org or call toll free (800) 440-8986. If inquiring by e-mail, please include your mailing address, telephone number, and number of shares purchased.
Abraham, Fruchter & Twersky, LLP, which is based in New York and has an office in California, has extensive experience in shareholder and securities class action cases. The firm has been ranked among the leading class action law firms in terms of recoveries achieved for shareholders.
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