NEW YORK, Feb. 17, 2017 (GLOBE NEWSWIRE) -- Stull, Stull & Brody today announced that a securities fraud complaint and an ERISA Action have been filed and that it has commenced an investigation relating to the 401(k) defined contribution plan of Allergan plc (NYSE:AGN) ("Allergan" or the "Company"). Among other things, Stull, Stull & Brody is investigating whether fiduciaries of Allergan's 401(k) plan violated the Employee Retirement Income Security Act of 1974 ("ERISA") by offering Allergan stock as an investment option under the plan when it was not prudent to do so and by failing to disclose the Company's true financial and operating condition to participants and beneficiaries of the plan.
If you held Allergan stock in an individual account under a Company 401(k) plan during the last several years and have questions about your legal rights or interests with respect to these matters, please contact Michael Klein, Esq. at Stull, Stull & Brody by e-mail at agn@ssbny.com, by calling toll-free 1-800-337-4983 x147, by fax to 1-212-490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.
The cases focus on whether, between February 25, 2014 and November 3, 2016, the Company and its executives violated federal securities laws by making false and/or misleading statements regarding a Department of Justice (“DOJ”) antitrust investigation that could lead to potential criminal charges against the Company. The securities fraud action alleges that Target failed to disclose the following facts: (1) Allergan and Actavis were engaging and/or had engaged in conduct that would result in an antitrust investigation by the U.S. Department of Justice; (2) the DOJ investigation and the underlying conduct could cause U.S. prosecutors to file criminal charges against Allergan and Actavis by the end of 2016 for suspected price collusion; (3) in turn, Allergan and Actavis lacked effective internal controls; and (4) as a result, Allergan plc’s and Actavis plc’s public statements were materially false and misleading at all relevant times.
You may retain Stull, Stull & Brody, or other counsel of your choice, to represent you. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in New York and Beverly Hills.
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