November 13, 2020 - A consolidated complaint was filed.

June 26, 2020 - An investor in shares of Mylan N.V. (NASDAQ: MYL) filed a lawsuit in the U.S. District Court for the Western District of Pennsylvania over alleged violations of Federal Securities Laws by Mylan N.V. in connection with certain allegedly false and misleading statements made between February 16, 2016 and May 7, 2019.

United Kingdom based Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, branded-generic, brand-name, and over-the-counter (OTC) pharmaceutical products in North America, Europe, and internationally. Mylan N.V. reported that its annual Total Revenue declined from over $11.9 billion in 2017 to over $11.43 billion in 2018 and that its Net Income declined from $696 Million in 2017 to $352.5 million in 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Mylan N.V. (NASDAQ: MYL) common shares between February 16, 2016 and May 7, 2019, that the defendants violated Federal Securities Laws.

More specifically, the claims against Mylan N.V. arise from the Company's misrepresentations and omissions regarding rampant abuses of federal quality control regulations, including at the Morgantown facility. The plaintiff says that under a scheme implemented by Mylan's President, Rajiv Malik, Mylan chemists manipulated quality control test data in order to create the facade that Mylan's drugs had achieved passing quality control results. In November 2016, a whistleblower reported Mylan's conduct to the U.S. Food & Drug Administration ( FDA ). The plaintiff claims that the truth began to be revealed on June 27, 2018, when Mylan N.V. revealed that the FDA had investigated the Morgantown plant in the Spring of 2018—the second FDA investigation of that plant in less than two years. According to the FDA, the Morgantown plant exhibited significant deficiencies in [its] cleaning process[es], numerous instances of a lack of oversight, and multiple instances of Mylan chemists re-cleaning and re-swabbing quality control testing machines multiple times until passing results were obtained. The plaintiff says that as a result of these violations, Mylan N.V. was ultimately forced to reveal that it would be dramatically restructuring its Morgantown facility, including by terminating hundreds of employees, and reported a surprise quarterly loss on May 7, 2019, which the Company attributed, in part, to the Morgantown restructuring. The disclosures concerning Mylan's misconduct and its impact on the Company's business and financial condition caused the value of Mylan stock to decline dramatically, resulting in significant damages to investors.