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BOSTON, Feb. 25, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, has filed a securities fraud class action against Perrigo Company plc. (“PRGO” or the “Company”) (NYSE: PRGO) and certain of its officers. The firm encourages shareholders to contact Block & Leviton LLP ahead of the March 4, 2019 lead plaintiff deadline.
The complaint, filed in the United States District Court Southern District of New York, 500 Pearl Street, New York, NY 10007, captioned Masih v. Perrigo Company plc, et al., Case No. 1:19-cv-00070, alleges that on December 20, 2018, Perrigo issued a Form 8-K disclosing that the Company had received an audit finding letter from the Irish tax authorities on October 30, 2018 asserting "that IP sales transactions… including the sale of Tysabri®, were not part of the trade of Elan Pharma and therefore should have been treated as chargeable gains subject to an effective 33% tax rate, rather than the 12.5% tax rate applicable to trading income."
While Perrigo had disclosed the existence of the audit finding letter to investors on November 8, 2018, the Company failed to disclose material details associated with the audit finding letter at that time.
Following the publication of the December 20, 2018 8-K, Perrigo’s stock price plunged almost 25%.
If you have purchased or otherwise acquired Perrigo securities between November 8, 2018 and December 20, 2018 and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact Block & Leviton LLP at (617) 398-5660, (888) 868-2385, by email at email@example.com, or by visiting http://shareholder.law/perrigo.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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SOURCE Block & Leviton LLP