San Diego, CA -- (SBWIRE) -- 07/22/2016 -- The Shareholders Foundation announced that a deadline is coming up on July 18, 2016 in the lawsuit filed for investors of Perrigo Company plc (NYSE:PRGO) over alleged securities laws violations by Perrigo Company.

Investors who purchased shares of Perrigo Company plc (NYSE:PRGO) have certain options and there are strict and short deadlines running. Deadline: July 18, 2016. NYSE:PRGO stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

According to the complaint filed in the U.S. District Court for the District of New Jersey the plaintiff alleges on behalf of purchasers of Perrigo Company plc (NYSE:PRGO) common stock between April 21, 2015 and May 11, 2016 and on behalf of all investors in Perrigo common stock as of November 13, 2015, which was the deadline for Perrigo investors to tender their shares in connection with a tender offer made by Mylan N.V. According to the complaint the plaintiff alleges that the defendants violated Federal Securities Laws.

On April 8, 2015, Mylan N.V approached the Perrigo Company plc Board of Directors with an offer to purchase Perrigo Company plc for $205 per share. The price of Perrigo Company plc (NYSE:PRGO stock increased to as high as $215 per share in intraday trading on April 8, 2015.

On April 21, 2015, and between April 21, 2015 and May 11, 2016, Perrigo Company plc publicly rejected Mylan N.V.'s offer and told investors that the offer substantially undervalued Perrigo Company plc and its growth prospects, and that the offer did not take into account the full benefits of the Company's acquisition of Omega Pharma N.V. ("Omega").

Mylan N.V. subsequently raised its offer to approximately $235 per share, over the next six months. However, Perrigo Company plc continued to reject Mylan's proposal.

On November 13, 2015, the majority of the Company's shareholders declined to tender their shares making the tender offer a failure.

The plaintiff says that the Defendants' misrepresentations caused Perrigo Company plc shares to trade at artificially inflated prices throughout between April 21, 2015 and May 11, 2016.

On February 18, 2016, Perrigo Company plc reported fourth quarter 2015 revenue, margins, earnings, and cash flow that were all lower than investors had been led to expect, and decreased earnings guidance for 2016. The Company also announced the sudden need to restructure parts of the Omega business, and that it would need to take a $185 million impairment charge related to Omega's assets.

Then, on April 22, 2016, it was reported that Perrigo Company plc's longtime CEO, Papa, would be appointed as the new CEO of competing pharmaceutical company Valeant Pharmaceuticals.

On April 25, 2016, Perrigo Company plc confirmed that CEO Papa was, in fact, resigning to become the new CEO of Valeant. The Company also drastically lowered its earnings guidance for 2016 and announced weak preliminary first-quarter 2016 results. The Company attributed its poor financial performance to increased competitive pressures and weaker than expected performance within Omega.

On May 12, 2016, Perrigo Company plc announced a first quarter net loss of $0.93 per share (which the Company later revised to a loss of $2.34per share), which the Company largely attributed to an additional $467 million impairment charge relating to the Omega acquisition. These disclosures caused a material decline in the price of Perrigo Company plc stock. In fact, shares of Perrigo Company plc declined from as high as 215 per share in intraday trading on April 8, 2015 to as low as $84.85 per share on May 13, 2016.

Those who purchased shares of Perrigo Company plc have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com