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Allergan plc (NYSE: AGN) Investor Securities Class Action Lawsuit 12/21/2018

  • If you purchased shares of Allergan plc (NYSE: AGN), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Allergan, Inc.
Security
NYSE: AGN

Case Name
Allergan Shareholder Class Action Lawsuit 12/21/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

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Summary

September 20, 2019 - The court granted in part and denying in part the defendants' motion to dismiss.

May 24, 2019 - A motion to dismiss the consolidated amended complaint was filed.

April 19, 2019 - A consolidated amended complaint was filed.

December 21, 2018 - An investor in shares of Allergan plc (NYSE: AGN) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Allergan plc in connection with certain allegedly false and misleading statements made between May 9, 2017, and December 19, 2018.

Dublin, Ireland based Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. Allergan plc reported that its annual Total Revenue rose from over $14.57 billion in 2016 to over $15.94 billion in 2017 and that its Net Income of over $14.97 billion in 2016 declined to a Net Loss of over $41.2 billion in 2017.

On December 18, 2018, France's National Agency for the Safety of Medicines & Health Products ordered the recall of textured breast implants manufactured by Allergan plc from the European market, stating that the implants have been linked to a rare form of cancer —specifically, anaplastic large cell lymphoma.

On December 19, 2018, Allergan plc stated that it would remove its textured breast implants from the European market. Shares of Allergan plc (NYSE: AGN) declined to as low as $125.84 per share on December 26, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Allergan plc (NYSE: AGN) common shares between May 9, 2017, and December 19, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between May 9, 2017, and December 19, 2018, the Allergan concealed from investors the fact that the Company's CE Mark for its textured breast implants and tissue expanders was expiring in Europe.