A lawsuit was filed on behalf of investors in Endo International plc (NASDAQ:ENDP) shares over alleged securities laws violations and NASDAQ:ENDP investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/02/2016 -- The Shareholders Foundation announced that an investor, who purchased shares of Endo International plc (NASDAQ:ENDP), filed a lawsuit in New York against Endo International over alleged Securities Laws violations.
Investors who purchased shares of Endo International plc (NASDAQ:ENDP) have certain options and for certain investors are short and strict deadlines running. Deadline: July 25, 2016. NASDAQ:ENDP investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of purchasers of Endo International plc (NASDAQ:ENDP) common shares between March 2, 2015 and May 6, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 2, 2015 and May 6, 2016 the Defendants made certain allegedly false and/or misleading statements and/or allegedly failed to disclose that Endo Pharmaceuticals' arrangements with pharmacy benefit managers with respect to the migraine therapy Frova included questionable incentives intended to increase sales revenues, that consequently, Endo's revenues and revenue projections relied in part on unsustainable arrangements, and that as a result of the foregoing, Defendants' statements about Endo's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
On May 5, 2016, Endo International plc filed a Report with the SEC and issued a press release announcing the Company's financial and operating results for the quarter ended March 31, 2016 (the "Q1 2015 Earnings Release"). In the Q1 2015 Earnings Release, Endo International plc reported a loss of $0.40 per diluted share, down from earnings of $0.11 per share in the first quarter of 2015. Additionally, Endo International plc significantly cut its 2016 guidance, announcing targeted revenue in the range of $3.87 billion and $4.03 billion, down from the range of $4.32 billion to $4.52 billion that the Company had reaffirmed in March, less than two months earlier. Concurrently, Endo International plc announced changes to its board and management structure, including the resignation of Brian Lortie, President of the Company's U.S. Branded Pharmaceuticals segment, pending selection of his replacement.
Shares of Endo International plc - Ordinary Shares (NASDAQ:ENDP) declined from as high as $94.46 per share in April 10, 2015 to as low as $12.56 per share on May 12, 2016.
Those who purchased shares of Endo International plc have certain options and should contact the Shareholders Foundation.
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