NEW YORK, Aug. 16, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Reckitt Benckiser Group plc (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.
To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=reckitt-benckiser-group-plc&id=1943 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
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.
According to the lawsuit, defendants failed to disclosed or misstated 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.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.
Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
tel: (800) 991-3756