Saxena White is pleased to announce that on September 24, 2020, Judge Denise L. Cote of the U.S. District Court for the Southern District of New York granted Plaintiffs’ motion for class certification in In re Perrigo Company PLC Securities Litigation, 19-cv-70-DLC (S.D.N.Y.), and appointed Saxena White as lead counsel for the Class. Judge Cote’s order certified a class of all persons or entities who purchased or otherwise acquired publicly traded common stock of Perrigo Company plc (“Perrigo”) in the United States, from November 8, 2018 to December 20, 2018, inclusive, and who were damaged thereby.
The ruling enables the Lead Plaintiffs City of Boca Raton General Employees’ Pension Plan and Palm Bay Police and Firefighters’ Pension Fund, and their chosen counsel Saxena White, to proceed with their action to protect the interests of all investors who were harmed by Perrigo’s fraud. Specifically, the class action against Perrigo, its former CEO Murray S. Kessler, and its CFO Ronald Winowiecki, alleges that Perrigo—a pharmaceutical company incorporated in Ireland—concealed from investors a staggering $1.9 billion tax liability that Ireland’s tax authority had levied against the Company. When the truth was finally revealed, Perrigo’s stock price fell precipitously, causing significant harm to investors.
In granting Plaintiffs’ motion, Judge Cote praised Lead Plaintiffs for showing their active participation in, and close monitoring of the litigation, and that “they stand ready to protect the interests of the class”. Additionally, Judge Cote noted that Saxena White is “well qualified and has extensive experience litigating securities class actions.”