( MENAFN - GlobeNewsWire - Nasdaq) NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Taro Pharmaceutical Industries Ltd. (“Taro” or“the Company”) (NYSE: TARO) and certain of its officers.
Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Taro securities pursuant to the registration statement and prospectus issued in connection with the Company's January 25, 2024 initial public offering ("IPO"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/TARO .
Case Details The Complaint alleges that on January 17, 2024, Taro's Board caused the Company to enter into an agreement and plan of merger (the "Merger Agreement") with Sun Pharmaceutical Industries Ltd. ("Sun Pharma"), pursuant to which, Taro shareholders received $43.00 in cash for each ordinary share they owned (the "Merger Consideration").
The Complaint adds that on April 15, 2024, the Board authorized the filing of a materially incomplete and misleading definitive proxy statement (the "Proxy") with the Securities and Exchange Commission ("SEC"), in violation of Sections 14(a) and 20(a) of the Exchange Act and setting a vote on May 22, 2024. The Complaint alleges that Defendan.