NEW YORK, Oct. 6, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Mylan N.V. ("Mylan" or the "Company") (NASDAQ: MYL) (ISIN: NL0011031208). Investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Mylan and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On October 5, 2016, the Centers for Medicare and Medicaid Services ("CMS") issued a letter stating that Mylan had for years overcharged the U.S. Medicaid health program to buy its EpiPen shot, despite being told that the Company needed to provide bigger discounts under the law. The CMS letter stated that from 2011 to 2015, the U.S. Medicaid health program spent approximately $797 million on EpiPens, including rebates of roughly 13%, rather than the discount of 23.1% that the U.S. should have received. The letter stated that the government has previously "expressly told Mylan that the [EpiPen] product is incorrectly classified."
On this news, Mylan's share price has fallen as much as $1.18, or 3.1%, to $36.85 during intraday trading on October 6, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP