The legal whirlwind intensifies as Israeli investors plunge Teva Pharmaceuticals into a tempest over alleged opioid misrepresentations.
In a thunderous legal strike, Teva Pharmaceutical Industries Ltd. finds itself in the eye of a storm in Connecticut. Several Israeli institutional investors have unfurled accusations, suggesting that Teva’s entanglement in the tumultuous U.S. opioid epidemic wounded shareholders deeply, especially once its shadowy criminal liability came to light. The repercussions? A staggering $4.25 billion settlement aiming to extinguish the flames of countless lawsuits against the pharma titan.
Behind Closed Doors: Unraveling Teva’s Alleged Transgressions
Roughly 24 Israeli institutional heavyweights have stepped forth, unveiling a meticulously detailed 150-page dossier. This chronicle of accusations paints Teva, along with its U.S. arm and a slew of former top brass, in a shade of deception. From 2014 to 2019, the dossier alleges, these key players concealed Teva’s clandestine marketing and opioid distribution tactics, along with the looming legal threats these actions would invariably invite.