Teva Generic Price-Fixing Securities Suit Gets Class Status (1)

Shareholders who hit Teva Pharmaceutical Industries Ltd. with securities lawsuits may proceed as a class in their consolidated action alleging a generic drug price-fixing conspiracy that they also say led to inflated prices and misrepresentations about Teva’s success.

The class certification Tuesday by a federal judge in Connecticut covers some plaintiffs in 25 separate lawsuits, including four proposed class actions, brought against Teva, its various subsidiaries, and current and former Teva employees. They allege the company inflated prices on certain generic drugs. The plaintiffs say Teva violated federal and state securities laws by publicly attributing its success to good business ...