Investors Say Perrigo Overpromised To Dodge Mylan Takeover

Law360, New York (November 1, 2017, 7:58 PM EDT) -- Perrigo Co. PLC investors filed suit against the company in New Jersey federal court on Wednesday, saying it made misleading statements in connection with its ultimately successful attempts to escape its generic pharmaceutical competitor Mylan NV’s hostile takeover bid in 2015.

Carmignac Gestion SA, which had managed several French mutual funds that purchased Perrigo stock, accused Perrigo and its executives of falsely claiming that the company could weather generic drug pricing pressures, that it forecasted strong profitability, and that its acquisition of Omega Pharma NV would...
To view the full article, register now.