Teva Hit With Securities Class Action Over CEO Resignation

Law360, Los Angeles (December 18, 2013, 10:12 PM EST) -- Teva Pharmaceutical Industries Inc. was slapped with a putative class action in New York federal court on Wednesday when a shareholder alleged the company intentionally misled the media and investors about a dispute between the CEO and the board of directors.

Jill Edison alleged the unexpected resignation of CEO Jeremy Levin — just days after the company denied he would resign — caused the company to lose $2.8 billion in market capitalization, according to the suit.

“Plaintiff and the class purchased Teva securities at artificially inflated...
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