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Endo International Settles Securities Settlement for $50 Million

Generic Pharmaceuticals Company Settles Securities Fraud Suit



Case name: Endo International

Settlement fund: $50,000,000

Claim filing deadline:11/14/2019

Class period: 6/5/2015 – 11/13/2018 (Purchase period: 6/5/2015 - 6/10/2015)

Definition of class from settlement notice: “If you purchased or otherwise acquired the publicly traded common stock of Endo International issued in or traceable to the Company’s June 5, 2015 secondary offering of common stock, you may be entitled to a payment from a class action settlement.”

Eligible securities in brief: Common stock purchased or acquired pursuant to secondary public offering between June 5, 2015 and June 10, 2015

Fairness Hearing: 10/21/2019

Exclusion Deadline: 9/30/2019

Objection Deadline: 9/30/2019

What this case is about: Plaintiffs alleged that the Offering Documents failed to disclose declining demand for Endo’s generic products, and that personnel in its generic division had resorted to unsustainable business practices to meet sales numbers. When Defendants allegedly revealed the existence of these negative trends and the impact they had on Endo’s finances, the Company’s stock price fell well below the Offering price. Plaintiffs also alleged that Endo International conspired to fix prices for generic drugs with Par Pharamceuticals, which Endo acquired during 2015. Endo faced both a criminal investigation by the department of justice and an antitrust suit brough by 47 State Attorneys General.

According to the complain, "Defendants’ statements concealed that a material portion of Endo’s profits resulted from  extraordinary price increases, after which Defendants did not compete with their historic cutthroat rivals. Shareholders did not know that, contrary to Defendants’ false statements, Endo was in fact not competing, and the touted profits were highly at risk of vanishing if competition resumed. As would come to pass, once Endo was the subject of a law enforcement subpoena in December 2015, Defendants’ ability to sustain the scheme, let alone make more anticompetitive price increases, ceased; the once steady flow of Inflated Profits began to evaporate."

How Chicago Clearing Can Help: Every day, our team files claims in financial class action litigations. We are preparing claims now for potential Endo International Class members. If you or your clients are eligible for this litigation, or any of the other 32 settlements with upcoming deadlines, then pease give us a call at 312-204-6970.


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