Speakes v. Taro Pharmaceutical Industries, Inc.

The firm serves as sole lead counsel representing the City of Atlanta Firefighters’ Pension Fund in Speakes v. Taro Pharmaceutical Industries Inc., et al., No. 16-cv-08318-ALC (S.D.N.Y), a securities fraud class action against Taro Pharmaceuticals Industries Ltd. (“Taro”), its CEO, and its former CFO.  The plaintiffs allege that defendants misled investors in violation of Section 10(b) of the Securities Exchange Act of 1934 through misstatements and omissions about the competitive environment Taro faced and the pricing of Taro’s generic drugs.  The action arises from The Department of Justice’s Antitrust Division’s investigation of Taro relating to possible generic pharmaceutical price-fixing and antitrust violations.  The action is pending.