SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors Teva Pharmaceutical Industries Limited - TEVA
New York, New York--(Newsfile Corp. - July 11, 2022) - Pomerantz LLP is investigating claims on behalf of investors of Teva Pharmaceutical Industries Limited ("Teva" or the "Company") (NYSE: TEVA). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Teva and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 11, 2022, the Office of the New York Attorney General (the "OAG") issued a press release entitled "Attorney General James Uncovers Evidence That Teva Pharmaceuticals Lied to Evade Accountability for Opioid Crisis in New York". The press release described a motion by order to show cause filed by the OAG, which "outlines how Teva Pharmaceutical Industries, Ltd. (Teva Parent) made significant and intentional misrepresentations to the Office of the Attorney General (OAG) and the court about its involvement with Teva Pharmaceuticals USA (Teva USA) and role in the opioids industry in the United States in order to evade legal action and accountability. New evidence uncovered by OAG shows that, despite sworn testimony provided to the court that Teva Parent transacted no business in the United States, held no property in the United States, and had no role in its American opioids business, Teva Parent was a primary decision maker for its American subsidiary, maintained property and employees in the country, and exerted control over its finances. In fact, Teva Parent use a complex web of shell corporations to transfer significant funds out of Teva USA and into offshore accounts it owns and control."
On this news, the price of Teva's American depositary receipts fell $0.58 cents per share, or 7.80% percent, to close at $6.86 per share on July 11, 2022.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130563