Investor Sues Perrigo on Mylan Hostile Bid Disclosures

An investor has sued Perrigo Co., alleging the over-the-counter drugmaker violated federal securities laws by misrepresenting the strength of its business while trying to convince shareholders to reject Mylan NV’s takeover bid late last year (Roofers’ Pension Fund v. Papa, D.N.J., 2:16-cv-02805, complaint filed 5/18/16).

Perrigo and former chief executive officer Joseph Papa made false and misleading statements, including that the Mylan offer was inadequate, Roofers’ Pension Fund said in a would-be class action filed May 18 at the U.S. District Court for the District of New Jersey.

The misstatements ultimately caused a majority of shareholders to ...