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Taro Agrees $36m Securities Settlement Over US Price-Fixing Claims

Eight-Year-Old Lawsuit Alleged Firm’s 'False Statements' Misled Investors

 
• By Dean Rudge

Sun’s Taro subsidiary is looking to move forward with an eight-figure settlement deal in the US, after plaintiffs including a firefighters’ pension fund accused the firm of misleading investors via its involvement in generic price fixing, leading to a fall in the price of its securities.

Settlement newspaper headline on money
• Source: Shutterstock

Taro Pharmaceutical has asked a court in Manhattan to approve a $36m settlement to resolve a class action lawsuit claiming that the Sun Pharma subsidiary misled investors about its involvement in alleged generic price fixing for two years, to the detriment of the price of the company’s securities.

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