The ground began to quake for shareholders in May 2019 when Teva’s $85 million settlement with Oklahoma was announced, leading to a precipitous drop in the company’s stock value.
The crescendo reached its peak in December 2021 when a New York jury passed a damning verdict, stating that Teva exacerbated the opioid crisis. In January, Teva announced its plans to pacify the turbulent waters with a global settlement offer, aiming to resolve the quagmire of lawsuits.
This lawsuit pulsates with charges of violations from both U.S. and Israeli securities laws. The investors have thrown down the gauntlet, demanding damages, attorney fees, and a jury trial.
While the storm rages, representatives from the involved parties remain shrouded in silence.
