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VTRS.US
id: 1171

Viatris (VTRS) $16M Shareholder Settlement

GD-21-13314
Case number
17 Nov 2020
Class period Start
28 Feb 2022
Class period End
02 Jul 2024
Claim deadline
Viatris (VTRS) agreed to settle $16M with investors to end claims over the misrepresentations in the Mylan merger case.

Case Details:

In November 2020, during the merger, Viatris issued approximately 560M new shares of $VTRS to former Mylan shareholders.

However, Viatris was accused that its Registration Statement misled about the following facts:
  • Viatris exaggerated its financial health and dividend policies.
  • The Registration Statement didn't mention Viatris's worsening situation in China due to government-mandated price cuts.
  • It also didn't reveal the significant impact of generic competitors on Viatris's Lyrica sales in Japan, despite prior expectations of a delayed loss of exclusivity.
Despite the supposed misrepresentations in the Registration Statement, Viatris completed the merger.

After that, when the truth came out, $VTRS dropped, resulting in a decline of over $1B from the offering price.

Viatris has now decided to end all allegations related to the Mylan merger by paying a $16M settlement to investors.
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Plaintiffs
Rajesh Patel
Attorneys
Scott+Scott Attorneys at Law LLP
Defendants
Michael Goettler, Sanjeev Narula, Bryan Supran, Margaret M. Madden, Douglas E. Giordano, Robert J. Coury, Ian Read, and James Kilts
Judge
Layn R. Phillips
Administrator
A.B. Data Ltd
Court hearing date
12 June 2024
Exclusion deadline
13 May 2024
Objection deadline
22 May 2024
Trades matching type
FIFO
+$16,000,000
Total Settlement Amount

Frequently Asked Questions

Viatris Inc

Viatris Inc. operates as a healthcare company worldwide. The company operates in four segments: Developed Markets, Greater China, JANZ, and Emerging Markets. It offers prescription brand drugs, gen...

    Ticker
    VTRS.US
    ISIN
    US92556V1061
    CIK
    1792044
    Sector
    Healthcare
    Industry
    Drug Manufacturers - Specialty & Generic
    Country
    USA
    Address
    1000 Mylan Boulevard, Canonsburg, PA, United States, 15317