SHAREHOLDER SEPT 13 DEADLINE ALERT: Pawar Law Group Announces a Securities Class Action Lawsuit Against Reckitt Benckiser Group plc - RBGLY
NEW YORK, NY / ACCESSWIRE / September 10, 2019 / Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Reckitt Benckiser Group plc (OTC PINK:RBGLY) from July 28, 2014 through April 9, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Reckitt investors under the federal securities laws.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 13, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To join the Reckitt class action, go to http://pawarlawgroup.com/cases/reckitt-benckiser-group-plc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) defendants had engaged in a scheme to artificially inflate the sales of Suboxone Film by more than $3 billion by falsely touting the drug’s purportedly superior efficacy and safety as compared to tablets; (2) contrary to defendants’ public statements, the FDA and internal Company documents had concluded that Suboxone Film posed a potentially greater risk of abuse and child endangerment than other available treatments; (3) defendants had fabricated a safety scare involving Suboxone Tablets in order to unlawfully delay and prevent generic competition; (4) defendants had engaged in a massive marketing campaign that had misrepresented the purported benefits of Suboxone Film as compared to Suboxone Tablets to doctors, healthcare providers, government regulators and investors; (5) defendants had encouraged Suboxone sales through medical providers that they knew were overprescribing the drug, facilitating the drug’s abuse and/or prescribing it in a careless and clinically unwarranted manner, often to hundreds of individuals at a time; (6) as a result, Reckitt’s revenues, net income and earnings were artificially inflated and the product of illicit business practices; (6) Reckitt and Reckitt Pharma were exposed to extraordinary undisclosed legal and reputational risks that could result in billions of dollars in fines, lost business and legal judgments or other monetary penalties; and (7) as a result, defendants’ statements about Reckitt’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world.
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Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
info@pawarlawgroup.com
SOURCE: Pawar Law Group
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