Shareholder rights law firm Robbins
Arroyo LLP announces that a purchaser of Teligent, Inc. (NASDAQ:
TLGT) filed a class action complaint for alleged violations of the
Securities Exchange Act of 1934 between May 2, 2017 and November 7,
2017. Teligent is specialty generic pharmaceutical company.
View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/teligent-inc-apr-19/
Teligent Accused of Misleading Investors
According to the complaint, in May 2017, Teligent attributed its revenue
growth to a combination of new product launches and competitive supply
chain dynamics. In particular, Teligent CEO highlighted its supposedly
well-run R&D-approval-production-launch process by pointing out two
approvals from the past quarter. However, this statement was misleading
because Teligent failed to disclose product non-conformities in R&D and
non-compliance with applicable regulations. The truth was revealed in
November 2017 when Teligent disclosed disappointing Q3 2017 earnings.
Teligent attributed the drop to FDA approval delays and completion as
well as undefined manufacturing issues. On this news, Teligent’s share
price fell $2.29 on November 7, 2017, and has continued to plummet.
Teligent Shareholders Have Legal Options
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leo Kandinov at (800)
350-6003, lkandinov@robbinsarroyo.com
or via the shareholder
information form on the firm's website.
Robbins
Arroyo LLP is a nationally recognized leader in shareholder rights
law. The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
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