Mylan Hit With Stock-Drop Suit Over Test Manipulation
Law360 (June 29, 2020, 5:28 PM EDT) -- A public employee pension fund launched a class action in Pennsylvania federal court on Friday accusing Mylan NV of artificially pumping up its stock price by manipulating quality control tests at a West Virginia plant before eventually being exposed by a pair of whistleblowers and subsequent federal investigations.
The Public Employees' Retirement System of Mississippi said that Mylan's stock price ended up tumbling significantly after a string of revelations through 2018 and 2019 that the pharmaceutical giant had worked to manipulate quality control testing at a manufacturing facility in Morgantown, West Virginia, and failed to adequately address the problem after it...
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