Perrigo Company plc (NYSE:PRGO) Investor Securities Class Action Lawsuit 01/03/2019

If you purchased shares of Perrigo Company plc (NYSE:PRGO), you have certain options and for certain investors are short and strict deadlines running. Deadline: March 4, 2019. NYSE:PRGO investors should contact the Shareholders Foundation, INc.

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Company Name(s): 
Perrigo Company
Case Name: 
Perrigo Company Shareholder Class Action Lawsuit 01/03/2019
Case Status: 
Lawsuit Filed
Affected Securities
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
Class Period Begin: 
Class Period End: 
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 

An investor in shares of Perrigo Company plc (NYSE:PRGO) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Perrigo Company plc in connection with certain allegedly false and misleading statements made between November 8, 2018 and December 21, 2018.

Dublin, Ireland based Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. Perrigo Company plc reported that its annual Total Revenue declined from over $5.28 billion in 2016 to over $4.94 billion in 2017 and that its Net Loss of over $4.01 billion in 2016 turned into a Net Income of $119.60 million in 2017.

On December 21, 2018, Perrigo Company plc disclosed 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."

Shares of Perrigo Company plc (NYSE:PRGO) declined to as low as $36.28 per share on December 24, 2018.

On January 3, 2019, Perrigo Company plc (NYSE:PRGO) shares closed at $39.87 per share.

According to the complaint the plaintiff alleges on behalf of purchasers of Perrigo Company plc (NYSE:PRGO) common shares between November 8, 2018 and December 21, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that while Perrigo Company plc 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.