SAN DIEGO & BUENA, N.J.--(BUSINESS WIRE)--
Shareholder rights law firm Robbins Arroyo LLP announces that a purchaser of Teligent, Inc. (TLGT) filed a class action complaint for alleged violations of the Securities Exchange Act of 1934 between May 2, 2017 and November 7, 2017. Teligent is specialty generic pharmaceutical company.
View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/teligent-inc-apr-19/
Teligent Accused of Misleading Investors
According to the complaint, in May 2017, Teligent attributed its revenue growth to a combination of new product launches and competitive supply chain dynamics. In particular, Teligent CEO highlighted its supposedly well-run R&D-approval-production-launch process by pointing out two approvals from the past quarter. However, this statement was misleading because Teligent failed to disclose product non-conformities in R&D and non-compliance with applicable regulations. The truth was revealed in November 2017 when Teligent disclosed disappointing Q3 2017 earnings. Teligent attributed the drop to FDA approval delays and completion as well as undefined manufacturing issues. On this news, Teligent’s share price fell $2.29 on November 7, 2017, and has continued to plummet.
Teligent Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leo Kandinov at (800) 350-6003, firstname.lastname@example.org or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.