Endo International's revenue stream relies in part on its ability to negotiate favorable arrangements with pharmacy benefit managers ("PBMs") for the coverage of the Company's products by insurers. The complaint alleges that throughout the class period, defendants made materially false and/or misleading statements and/or failed to disclose that: (a) its subsidiary, Endo Pharmaceuticals Inc., had arrangements with PBMs with respect to the migraine therapy Frova which included questionable incentives intended to increase sales revenues; and (b) as a result, Endo's revenues and revenue projections relied in part on unsustainable arrangements.
On May 6, 2016, Endo stock fell nearly 40% after slashing its full-year revenue and profit forecasts following a first quarter loss. The company also announced that in March of 2016, Endo Pharmaceuticals had received a request for documents from the U.S. Attorney's Office for the Southern District of New York.
If you suffered a loss in Endo International you have until July 25, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.425.1140, or visit http://www.wongesq.com/pslra/endo-international.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
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SOURCE The Law Offices of Vincent Wong