Endo International plc
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of those who acquired Endo International plc (“Endo” or the “Company”) (NASDAQ: ENDP) securities during the period from August 8, 2017 through June 10, 2020. Investors have until August 18, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that Defendants failed to disclose that: (i) the full scope of Endo’s and/or its subsidiaries’ contributions to the opioid crisis, including, but not limited to, their opioid products’ disproportionately negative impact on New York, one of the most populous states in the U.S., as well as the fraud that Defendants perpetrated on the New York insurance market; (ii) part of that contribution to the crisis included Endo publishing and disseminating false information to health care providers regarding the risks and benefits of opioids; and (iii) that the foregoing, once revealed, was foreseeably likely to subject Endo and/or its subsidiaries to increased regulatory scrutiny and enforcement, as well as significant financial and/or reputational harm, particularly with respect to New York.
On June 10, 2020, New York Governor Andrew Cuomo announced that the New York Department of Financial Services had filed administrative charges against Endo in connection with its role in the opioid crisis, alleging that Endo fraudulently misrepresented the safety and efficacy of its opioid drugs while minimizing the risk of addiction and other ill effects. On this news, the price of Endo’s shares fell $0.66, or 14.6%, to close at $3.85 per share on June 10, 2020.
If you acquired Endo securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.