PHILADELPHIA – A specialty health care company with its U.S. headquarters in Malvern is facing a suit from a stockholder alleging he purchased artificially inflated stock.

Brandon Bier filed a complaint on behalf of himself and all others similarly situated on Aug. 18 in the U.S. District Court for the Eastern District of Pennsylvania against Endo International PLC, formerly known as Endo Health Solutions Inc.;  Kanishka Liyanaarchchie De Silva; Terrance J. Coughlin; Susan Hall; and  Matthew Davis citing the Securities Exchange Act.

According to the complaint, one of Endo's pharmaceuticals is Opana ER, an opioid analgesic, and a crush-resistant version of it was approved by the Food and Drug Administration in December 2011. The plaintiff alleges Endo made several false and misleading statements about the drug and failed to disclose that it was not abuse-deterrent.

The suit states the drug was later removed from the market in July 2017 and the company's share price fell in response to the knowledge the reformulated version could be crushed. The plaintiff alleges he and other members of the class purchased stock at artificially inflated prices and suffered losses.

The plaintiff requests a trial by jury and seeks compensatory damages, court costs, injunctive relief and any further relief the court grants. He is represented by Ryan M. Ernst and Daniel P. Murray of O'Kelly Ernst & Joyce LLC in Wilmington, Delaware.

U.S. District Court for the Eastern District of Pennsylvania case number 2:17-cv-03711-TJS

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U.S. District Court for the Eastern District of Pennsylvania
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Philadelphia, PA - 19106

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