Faruqi & Faruqi To Lead Teva Securities Suit Over Kickbacks

Law360 (March 26, 2021, 10:38 PM EDT) -- Faruqi & Faruqi LLP was selected Friday to helm a putative investor class alleging that Teva Pharmaceuticals lied about illegal kickback payments it made to charitable foundations to cover Medicare copayments of patients taking its multiple sclerosis drug, according to an order filed in Pennsylvania federal court.

The firm beat out Pomerantz LLP for the spot, according to the case docket.

In their proposed class action, the investors said that Teva made false and misleading statements about why the drug, Copaxone, saw such commercial success. Notably, the company failed to disclose that it was coordinating with nonprofits Chronic Disease Fund and...

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