Securities Litigation: Viatris Investors Encouraged to Contact Faruqi & Faruqi, LLP
Investors who have suffered significant losses following the merger of Pfizer Inc.’s Upjohn business and Mylan N.V. to form Viatris Inc., are encouraged to contact James (Josh) Wilson, a securities litigation partner at Faruqi & Faruqi, LLP.
According to Wilson, the securities class action lawsuit alleges that Pfizer and Mylan misrepresented and concealed material information regarding the financial condition and prospects of Upjohn and Mylan, as well as the financial benefits of the merger. The lawsuit also alleges that the companies failed to disclose material information regarding the risks associated with the merger.
Background of the Merger
The merger between Pfizer’s Upjohn business and Mylan N.V. was announced on August 24, 2020. The deal, which was valued at approximately $17 billion, was expected to create a new global pharmaceutical company focused on generic and branded medicines, making it one of the largest mergers in the pharmaceutical industry.
Impact on Investors
Following the merger announcement, Pfizer and Mylan’s stocks experienced a significant rally. However, in November 2020, Viatris disclosed that it would delay the filing of its Form 10-Q quarterly report due to ongoing reviews by the Securities and Exchange Commission (SEC) and the Internal Revenue Service (IRS). This disclosure caused a sharp decline in the stock price, resulting in significant losses for investors.
Wilson explained that investors who purchased Pfizer or Mylan securities between August 24, 2020, and November 11, 2020, may be eligible to recover their losses. He urged investors to contact him directly to discuss their options.
Global Implications
The Viatris securities lawsuit is not an isolated incident. Mergers and acquisitions (M&A) have become an increasingly common strategy for companies to grow and expand their businesses. However, these transactions can be complex and come with inherent risks. Misrepresentations and non-disclosures during the M&A process can lead to significant financial losses for investors.
The outcome of the Viatris lawsuit could have far-reaching implications for the securities industry, particularly in the context of M&A transactions. It could potentially lead to increased scrutiny of M&A disclosures and heightened regulatory oversight.
Conclusion
If you have invested in Pfizer or Mylan securities between August 24, 2020, and November 11, 2020, and have suffered significant losses, it is important to understand your legal rights and options. Contacting a securities litigation partner, such as James (Josh) Wilson at Faruqi & Faruqi, LLP, can help you determine if you are eligible to recover your losses. The Viatris lawsuit is an important reminder of the risks associated with M&A transactions and the importance of accurate and transparent disclosures.
- Pfizer and Mylan merge to form Viatris
- Merger announcement leads to stock rally
- Delayed filing of Form 10-Q causes sharp decline in stock price
- Securities class action lawsuit alleges misrepresentations and non-disclosures
- Investors who purchased Pfizer or Mylan securities between August 24, 2020, and November 11, 2020, may be eligible to recover their losses
- Outcome of the lawsuit could have implications for the securities industry and M&A transactions
