A class action lawsuit on behalf of purchasers of the American Depositary Shares (“ADSs”) of Teva Pharmaceutical Industries Limited (NYSE: TEVA) between February 10, 2015 and November 3, 2016, both dates inclusive (the “Class Period”), was filed in 2016. The lawsuit seeks recovery of investor losses.

Case Background

According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Teva was engaging and/or had engaged in conduct that would result in an antitrust investigation by the U.S. Department of Justice (“DOJ”) and the State of Connecticut Office of the Attorney General; (2) the DOJ investigation and the underlying conduct could cause U.S. prosecutors to file criminal charges against Teva by the end of 2016 for suspected price collusion; (3) in turn, Teva lacked effective internal controls over financial reporting; and (4) as a result, Teva’s public statements were materially false and misleading at all relevant times.

Cohen Milstein represents the purchaser class in this litigation.