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TARO.US

id: 1189

Taro Pharmaceutical (TARO) $36 Million Shareholder Settlement

The settlement funds have been distributed to claimants.

$36,000,000

Cash Settlement

S.D. New York

Court

1:16-cv-08318

Case number

07/02/2014

Class period Start

11/03/2016

Class period End

08/16/2024

Claim deadline

Taro Pharmaceutical (TARO) agreed to settle $36 million with investors to end claims over hiding generic drug price-fixing that led to a drop in $TARO price upon news of the DOJ antitrust investigation.

Case Type

US Securities Class Action

Case Status

Disbursed

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Payout per Share

2.53

Filing date

10/25/2016

Plaintiffs

City of Atlanta Firefighters’ Pension Fund

Attorneys

Bernstein Liebhard LLP (New York, NY)

Defendants

Michael Kalb, Kalyanasundaram Subramanian

Judge

Hon. Andrew L. Carter, Jr

Administrator

JND Legal Administration

Settlement agreement date

2024-04-15

Exclusion deadline

08/16/2024

Objection deadline

09/16/2024

Attorney fee

$11,159,397

Trades matching type

FIFO

Disbursement date

03/11/2025

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