NEW YORK, Nov. 25, 2016 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, reminds
investors in Mylan N.V. ("Mylan" or the "Company") (NASDAQ: MYL) of
the December 12, 2016 deadline to
seek the role of lead plaintiff in a federal securities class
action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the
Southern District of New York on
behalf of all those who purchased Mylan stock or options between
February 21, 2012 and October 5, 2016 (the "Class Period"). The
case, Perdue v. Mylan N.V. et al, No. 1:
16-cv-08000 was filed on October 13,
2016.
The lawsuit focuses on whether the Company and its executives
violated federal securities laws by providing misstatements on
payments made to government health-insurance programs with respect
to the Company's EpiPen product.
Specifically, on September 2,
2016, Inside Health Policy published an article
revealing 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."
After the announcement, Mylan's share price fell from
$41.92 per share on September 1, 2016 to a closing price of
$39.97 on September 2, 2016—a $1.95 or a 4.65% drop.
A subsequent Bloomberg article published on October 5, 2016, cited a letter from CMS to
Senator Ron Wyden of Oregon stating that, due to the
misclassification, between 2011 through 2015, Mylan N.V. and Mylan
Inc. paid a smaller rebate of 13%, or about $163 million, when it should have been paying a
rebate of 23.1% or more.
Then, on October 6, 2016, The
Fiscal Times published an article titled "Lawmakers Say EpiPen
Maker Bilked Medicare for More than $100
Million", stating that "[t]he incorrect classification
appears to have cost the federal government more than $100 million in the last five years alone."
After the announcement, Mylan's share price fell from
$38.03 per share on October 5, 2016 to a closing price of
$35.94 on October 7, 2016—a $2.09 or a 5.50% drop.
Request more information now by clicking here:
www.faruqilaw.com/MYL . There is no cost or obligation to
you.
Take Action
If you invested in Mylan stock or options between February 21, 2012 and October 5, 2016 and would like to discuss your
legal rights, visit www.faruqilaw.com/MYL. You can also contact us
by calling Richard Gonnello toll
free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to
rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also
encourages anyone with information regarding Mylan's conduct to
contact the firm, including whistleblowers, former employees,
shareholders and others.
The court-appointed lead plaintiff is the investor with the
largest financial interest in the relief sought by the class that
is adequate and typical of class members who directs and oversees
the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any
recovery is not affected by the decision of whether or not to serve
as a lead plaintiff.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with
respect to any future matter. We welcome the opportunity to discuss
your particular case. All communications will be treated in a
confidential manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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