We are investigating Endo International plc (ENDP) (“Endo” or the “Company”) for potential violations of the federal securities laws.
On June 10, 2020, the New York Department of Financial Services (“DFS”) issued a press release announcing that it “has filed charges and initiated administrative proceedings against Endo International plc and its subsidiaries, Endo Health Solutions Inc., Endo Pharmaceuticals, Inc., and Par Pharmaceutical Companies, Inc.” in connection with “DFS’ ongoing investigation into the entities that created and perpetuated the opioid crisis.” The DFS press release stated that “[t]he DFS’ statement of charges alleges that, like other opioid Manufactures, Endo . . . [k]nowingly furthered a false narrative to legitimize opioids as appropriate for broad treatment of pain by downplaying their long-known addictive nature and risks”; “[m]isrepresented the safety and efficacy of opioids, without legitimate scientific substantiation”; and “[d]eployed a large sales force to target healthcare providers directly with these misrepresentations.” Following the DFS announcement, Endo’s stock price fell sharply, damaging investors.