Bernstein Litowitz Achieves Significant Victory Certifying Claims Against Perrigo (NYSE; TASE: PRGO) for Shareholders in Both the United States and Israel
NEW YORK, Jan. 7, 2020 /PRNewswire/ -- Prominent securities litigation firm Bernstein Litowitz Berger & Grossmann LLP (“BLB&G”) announces a key victory in the securities class action against Perrigo Company plc (“Perrigo” or the “Company”), with the certification of three classes of investors by a New Jersey federal court.
The certification includes a class of investors who purchased stock in Perrigo between April 2015 and May 2017 on either the New York Stock Exchange (NYSE) or the Tel Aviv Stock Exchange (TASE). This is the first time that a U.S. District Court has certified a class of investors who purchased on a non-U.S. exchange since the U.S. Supreme Court’s 2010 ruling in Morrison v. Nat’l Australia Bank. In Morrison, the Court held that shareholders purchasing securities on exchanges outside the U.S. exchanges did not have claims under U.S. securities laws. The now certified claims in Perrigo on behalf of purchasers in Israel were brought under parallel provisions of the Israeli securities statutes.
The ruling in Perrigo not only sets the stage for the case to advance but also sets a precedent for shareholders in other cases involving purchases of securities on non-U.S. exchanges, an important development in the fight for shareholder rights in an increasingly global market. The case was decided by Judge Madeline Cox Arleo in the U.S. District Court for the District of New Jersey.
For more information about the securities class action against Perrigo please visit: https://www.blbglaw.com/cases/perrigo-company-plc .
BLB&G is widely recognized worldwide as a leading law firm advising institutional investors on issues related to corporate governance, shareholder rights, and securities litigation. Since its founding in 1983, BLB&G has built an international reputation for excellence and integrity and pioneered the use of the litigation process to achieve precedent-setting governance reforms. Unique among its peers, BLB&G has obtained several of the largest and most significant securities recoveries in history, recovering over $33 billion on behalf of defrauded investors. More information about the firm can be found online at www.blbglaw.com.
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SOURCE Bernstein Litowitz Berger & Grossmann LLP