NEW YORK, Feb. 26, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Perrigo Company plc (NYSE: PRGO) from November 8, 2018 through December 20, 2018, inclusive. The lawsuit seeks to recover damages for Perrigo investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than March 4 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, http://zhanginvestorlaw.com/join-action-form/?slug=perrigo-company-plc&id=1755 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email info@zhanginvestorlaw.com, slee@zhanginvestorlaw.com for information on the class action.
According to the lawsuit, on December 20, 2018, Perrigo filed a Form 8-K with the Securities and Exchange Commission disclosing that it had received an audit finding letter from the Irish tax authorities on October 30, 2018 stating “that IP sales transactions… including the sale of Tysabri®, were not part of the trade of Elan Pharma and therefore should have been treated as chargeable gains subject to an effective 33% tax rate, rather than the 12.5% tax rate applicable to trading income.” Although Perrigo had revealed to investors on November 8, 2018 that it had received the audit finding letter, it did not disclose material details. On this news, Perrigo securities plummeted $15.33 or over 29% to close at $37.03 on December 21, 2018.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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