RE:Class Action LinkSome of the claims made in the class action.
UNDISCLOSED ADVERSE FACTS
28. The market for Concordia’ securities was open, well-developed and efficient at all relevant times. As a result of these materially false and/or misleading statements, and/or failures to disclose, Concordia’ securities traded at artificially inflated prices during the Class Period. Plaintiff and other members of the Class purchased or otherwise acquired Concordia’ securities relying upon the integrity of the market price of the Company’s securities and market information relating to Concordia, and have been damaged thereby.
29. During the Class Period, Defendants materially misled the investing public, thereby inflating the price of Concordia’ securities, by publicly issuing false and/or misleading statements and/or omitting to disclose material facts necessary to make Defendants’ statements, as set forth herein, not false and/or misleading. The statements and omissions were materially false and/or misleading because they failed to disclose material adverse information and/or misrepresented the truth about Concordia’ business, operations, and prospects as alleged herein.
30. At all relevant times, the material misrepresentations and omissions particularized in this Complaint directly or proximately caused or were a substantial contributing cause of the damages sustained by Plaintiff and other members of the Class. As described herein, during the Class Period, Defendants made or caused to be made a series of materially false and/or misleading statements about Concordia’ financial well-being and prospects. These material misstatements and/or omissions had the cause and effect of creating in the market an Case 1:16-cv-06467 Document 1 Filed 08/15/16 Page 21 of 33 CLASS ACTION COMPLAINT 21 unrealistically positive assessment of the Company and its financial well-being and prospects, thus causing the Company’s securities to be overvalued and artificially inflated at all relevant times. Defendants’ materially false and/or misleading statements during the Class Period resulted in Plaintiff and other members of the Class purchasing the Company’s securities at artificially inflated prices, thus causing the damages complained of herein when the truth was revealed.