EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against Mylan N.V. - MYL
October 07 2016 - 06:48PM
Business Wire
Rosen Law Firm, a global investor rights law firm, announces it
is investigating potential securities claims on behalf of
shareholders of Mylan N.V. (NASDAQ:MYL) resulting from allegations
that Mylan may have issued materially misleading business
information to the investing public.
On September 2, 2016, an article was published by Inside Health
Policy stating that the Centers for Medicare &
Medicaid Services (“CMS”) “informed Mylan that it incorrectly
classified EpiPen as a generic under the Medicaid rebate program,
which caused financial consequences for federal and state
governments by reducing the amount of quarterly rebates Mylan owed
for its product.” On this news, shares of Mylan fell $1.95 per
share or over 4% to close at $39.97 per share on September 2,
2016.
On October 5, 2016, during aftermarket hours, Bloomberg
published an article citing a letter issued by the Acting
Administrator of CMS which stated that CMS “has expressly told
Mylan that the product [EpiPen] is incorrectly classified. This
incorrect classification has financial consequences for the amount
that federal and state governments spend because it reduces the
amount of quarterly rebates Mylan owes for EpiPen.”
On October 6, 2016, reports were published that the incorrect
classification of EpiPen® (“EpiPen”) appears to have cost the
federal government more than $100 million in the last five years
alone. On this news shares of Mylan fell $2.09 per share, or
approximately 5%, over the next two trading days to close at $35.94
per sharea on October 7, 2016.
On October 7, 2016, during aftermarket hours, Mylan announced
that it has reached a $465 million settlement with the U.S.
Department of Justice and other government agencies that will
resolve questions that have been raised about the classification of
EpiPen, for purposes of the Medicaid Drug Rebate Program.
Rosen Law Firm is preparing a class action lawsuit to recover
losses suffered by Mylan investors. If you purchased shares of
Mylan on or before October 7, 2016, please visit the firm’s website
at http://www.rosenlegal.com/cases-967.html for more information.
You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm
toll free at 866-767-3653 or via email at pkim@rosenlegal.com or
kchan@rosenlegal.com.
Follow us for updates on LinkedIn:
https://www.linkedin.com/company/the-rosen-law-firm or on Twitter:
https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20161007005831/en/
Laurence Rosen, Esq.Phillip Kim, Esq.Kevin Chan, Esq.The Rosen
Law Firm, P.A.275 Madison Avenue, 34th FloorNew York, NY 10016Tel:
(212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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