LOS ANGELES–(BUSINESS WIRE)–$ENDP #classaction—The Law Offices of Frank R. Cruz reminds investors of the upcoming August 18, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Endo International plc (“Endo” or “the Company”) (NASDAQ: ENDP) securities between August 8, 2017 and June 10, 2020, inclusive (the “Class Period”).
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On June 10, 2020, the New York Department of Financial Services (“DFS”) announced that it “has filed charges and initiated administrative proceedings against Endo International plc” and certain of its subsidiaries in connection with “DFS’ ongoing investigation into the entities that created and perpetuated the opioid crisis.” According to the DFS press release, “Endo . . . [k]nowingly furthered a false narrative to legitimize opioids as appropriate for broad treatment of pain by downplaying their long-known addictive nature and risks”; “[m]isrepresented the safety and efficacy of opioids, without legitimate scientific substantiation”; and “[d]eployed a large sales force to target healthcare providers directly with these misrepresentations.”
On this news, the Company’s share price fell $0.66, or nearly 15%, to close at $3.85 per share on June 10, 2020, thereby injuring investors.
The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) that 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; (2) that 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; (3) 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; and (4) that, as a result, the Company’s public statements were materially false and misleading at all relevant times.
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If you purchased or otherwise acquired Endo securities during the Class Period, you may move the Court no later than August 18, 2020 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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