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Mylan, N.V. (NASDAQ : MYL)

Securities Class Action

Overview
  • Date:
  • 10/12/2016
  • Company Name:
  • Mylan, N.V.
  • Stock Symbol:
  • MYL
  • Class Period:
  • FROM 2/21/2013 TO 10/7/2016
  • Status:
  • Closed/Complete
  • Court:
  • U.S. District Court: Southern District of New York

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NEW YORK, October 12, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the New York Southern District Court on behalf of all persons or entities who acquired Mylan, N.V. (NASDAQ: MYL) securities between February 28, 2013 to October 7, 2016 (the “Class Period”).

According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Mylan N.V. and Mylan Inc. incorrectly classified EpiPen as a generic under the Medicaid Drug Rebate Program, which was financially consequential for federal and state governments as it reduced the amount of quarterly rebates Mylan N.V. and Mylan Inc. owed for EpiPen; (2) between 2011 through 2015, Mylan N.V. and Mylan Inc. paid a lower rebate of 13% when it should have been paying a higher rebate of 23.1% or more; (3) the incorrect classification appears to have cost the federal government more than $100 million in the last five years alone; (4) in turn, Mylan N.V. and Mylan Inc. lacked effective internal controls over financial reporting; and (5) as a result, Mylan N.V. and Mylan Inc.’s public statements were materially false and misleading at all relevant times. The lawsuit claims that investors suffered damages when these details entered the market.

If you acquired Mylan securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.

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