PHILADELPHIA – A man alleges he acquired shares in a genetic medicine company at artificially inflated prices.
Barry Baker filed a complaint on behalf of himself and all others similarly situated on Aug. 30 in the U.S. District Court for the Eastern District of Pennsylvania against Teva Pharmaceutical Industries LTD, Erez Vigodman, Eyal Desheh and Yitzhak Peterburg alleging violation of federal securities laws.
According to the complaint, the plaintiff alleges that the defendants made false statements and omissions to investors about Teva's business. The plaintiff alleges that the defendants failed to disclose and actively concealed "the negative impact resulting from the acquisition and integration of Actavis Generics on the company’s financial results and business prospects," the suit states.
The plaintiff requests a trial by jury and seeks payment of damages, interest, court costs and any further relief the court grants. He is represented by Keith R. Lorenze and Jacob A. Goldberg of The Rosen Law Firm PA in Jenkintown and by Peretz Bronstein of Bronstein, Gewirtz & Grossman LLC in New York.
U.S. District Court for the Eastern District of Pennsylvania case number 2:17-cv-03902-GAM