TARO SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Taro Pharmaceutical Industries Ltd. - TARO
NEW ORLEANS, Nov. 25, 2016 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilDecember 26, 2016 to file lead plaintiff applications in a securities class action lawsuit against Taro Pharmaceutical Industries Ltd. (NYSE: TARO), if they purchased the Company's securities between July 3, 2014 and September 9, 2016, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Taro and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 26, 2016.
About the Lawsuit
Taro and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On September 9, 2016, Taro announced that its subsidiary and two senior officers received grand jury subpoenas from the U.S. DOJ, Antitrust Division, seeking documents regarding the sale of generic pharmaceutical products.
Then, on October 17, 2016, NECA-IBEW Welfare Trust Fund filed an antitrust class action lawsuit against Taro and several other pharmaceutical companies alleging that they engaged in the price-fixing of Clobetasol since 2014 in violation of the U.S. antitrust laws.
On this news, the price of Taro's shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.