Lawsuit filed for Investors in shares of Endo International plc (NASDAQ: ENDP)

An investor, who purchased shares of Endo International plc (NASDAQ: ENDP), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Endo International plc in connection with certain allegedly false and misleading statements.

Investors in shares of Endo International plc (NASDAQ: ENDP) have certain options and for certain investors are short and strict deadlines running. Deadline: August 18, 2020. NASDAQ: ENDP investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Endo International plc operates through several subsidiaries engaged in the opioid market, including Endo Health Solutions Inc. (“EHS”), Endo Pharmaceuticals, Inc. (“EPI”), Par Pharmaceutical Companies, Inc. (“PPCI”), and Par Pharmaceutical, Inc. (“PPI”).
Endo International plc and its subsidiaries have been substantial manufacturers of opioids in the U.S., with the State of New York (“New York”) comprising a significant part of Endo’s opioid market. Opioids sales constituted a substantial portion of Endo’s overall revenues. Opioids sales were responsible for roughly $403 million of Endo’s overall revenues in 2012, $657 million in 2014, and $486 million of Endo’s $4 billion in sales in 2016. Its branded opioid, Opana ER, yielded revenue of $1.15 billion from 2010 to 2013, and it alone accounted for 10% of Endo’s total revenue in 2012.
On June 10, 2020, New York Governor Andrew Cuomo (“Governor Cuomo”) announced that the New York Department of Financial Services (“DFS”) had filed administrative charges against Endo International plc in connection with its role in the opioid crisis, alleging that Endo fraudulently misrepresented the safety and efficacy of its opioid drugs while minimizing the risk of addiction and other ill effects. That same day, DFS issued its own press release specifically announcing that it “has filed charges and initiated administrative proceedings against Endo . . . and its subsidiaries, [EHS], [EPI], and [PPCI]” in connection with “DFS’ ongoing investigation into the entities that created and perpetuated the opioid crisis”; that “[t]he DFS’ statement of charges alleges that, like other opioid Manufactures, Endo . . . [k]nowingly furthered a false narrative to legitimize opioids as appropriate for broad treatment of pain by downplaying their long-known addictive nature and risks”; and that Endo and its subsidiaries “[m]isrepresented the safety and efficacy of opioids, without legitimate scientific substantiation,” and “[d]eployed a large sales force to target healthcare providers directly with these misrepresentations.”

Shares of Endo International plc (NASDAQ: ENDP) declined to as low as $3.23 per share on June 15, 2020.

The plaintiff claims that between August 8, 2017, and June 10, 2020, the Defendants made false and/or misleading statements and/or failed to disclose: (1) the full scope of Endo’s and/or its subsidiaries’ contributions to the opioid crisis, including, but not limited to, their opioid products’ disproportionately negative impact on New York, one of the most populous states in the U.S., as well as the fraud that Defendants perpetrated on the New York insurance market; (2) part of that contribution to the crisis included Endo publishing and disseminating false information to health care providers regarding the risks and benefits of opioids; (3) that the foregoing, once revealed, was foreseeably likely to subject Endo and/or its subsidiaries to increased regulatory scrutiny and enforcement, as well as significant financial and/or reputational harm, particularly with respect to New York; and (4) that, as a result, the Company’s public statements were materially false and misleading at all relevant times.

Those who purchased shares of Endo International plc (NASDAQ: ENDP) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.