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Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) Investor Investigation

An investigation for investors in Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) shares over potential securities laws violations by Teva Pharmaceutical Industries Ltd was announced.

FOR IMMEDIATE RELEASE

 
PRLog (Press Release) - Dec. 3, 2013 - An investigation on behalf of investors of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) shares over potential securities laws violations by Teva Pharmaceutical Industries Ltd and certain of its directors and officers in connection certain financial statements was announced.

If you purchased shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com (mailto:mail@shareholdersfoundation.com) or call +1(858) 779 - 1554

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) concerning whether a series of statements by Teva Pharmaceutical Industries Ltd. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) reported that its annual Total Revenue rose from over $16.12 billion in 2010 to over $20.31 billion in 2012, while its Net Income declined from over $3.33 billion in 2010 to over $1.96 billion in 2012.

On January 1, 2013, Teva Pharmaceutical Industries Ltd announced that that Shlomo Yanai, President and CEO of Teva Pharmaceutical Industries Ltd, planed to retire from the company effective May 2012, and that as part of a succession plan, the Board of Directors has named Dr. Jeremy Levin, a former senior executive at Bristol-Myers Squibb(NYSE:BMY), to succeed him at that time.

Shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) declined from $63.78 per share in March 2010 to $37.25 per share in March 2013.

Then on October 10, 2013, Teva Pharmaceutical Industries Ltd announced steps to accelerate the reduction of costs and to optimize its structure and processes.

Teva Pharmaceutical Industries Ltd said that these steps are part of Teva Pharmaceutical Industries’ worldwide restructuring program, which was introduced in December 2012 and included actions to divest non-core assets, increase organization effectiveness, improve manufacturing efficiency and reduce excess capacity. Teva Pharmaceutical Industries Ltd  also said that it will reduce its global workforce by approximately 10% (approximately 5,000 employees), and will complete the majority of the reduction by the end of 2014

According to the investigation on October 16, 2013, the press reported that the planned layoffs in Israel had generated a public uproar and that one member of Israel’s parliament was quoted as stating that Teva Pharmaceutical Industries’ planned layoffs were “an act of cannibalism” in light of the tax breaks and subsidies that Teva Pharmaceutical Industries has long enjoyed in Israel.

Then on October 30, 2013, Teva Pharmaceutical Industries Ltd announced that its Board of Directors has agreed with Dr. Jeremy Levin that he will step down as President and Chief Executive Officer and that the Board has named Eyal Desheh, Teva's Executive Vice President and Chief Financial Officer, to fill the role of President and Chief Executive Officer on an interim basis, effective immediately, and it has formed a committee that will promptly begin to search for a permanent successor.

Shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) declined from $41.70 per share on October 25, 2013, to $36.87 per share on October 31, 2013.

On Nov. 1, 2013, NYSE:TEVA shares closed at $37.12 per share.

Those who purchased shares of Teva Pharmaceutical Industries Ltd have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554

Contact
Shareholders Foundation, Inc.
+1-(858)-779-1554
mail@shareholdersfoundation.com

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Source:Shareholders Foundation, Inc.
Industry:Business, Finance
Tags:teva pharmaceutical, NYSE TEVA
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