Mylan NV Lawsuit Details – Concealment of Tax Inversion and Use of Unlawful Call Option
Gilman Law LLP announced that a complaint on was filed on July 21, 2015 on behalf of a shareholder of Mylan NV (NASDAQ: MYL) claiming the company and its leaders hid the circumstances of a tax inversion and created an unlawful call option to block a potential acquisition by Teva Pharmaceutical Industries, Inc. The complaint alleges that Mylan’s board of directors convinced shareholders to approve a tax inversion that converted the old Mylan Inc. to the new Mylan NV, a company that would be traded on NASDAQ and follow its listing rules. The complaint continues to state that Mylan’s board then issued a call option in April to a specifically created Dutch foundation, Stichting Preferred Shares Mylan. The call option would allow Stichting to buy enough shares to control Mylan’s voting stock and eliminate the shareholder’s voting power. The complaint states this call option was planned to prevent Mylan shareholders from accepting Teva’s acquisition offer, which would have given the shareholders a 48.3% premium.
We are encouraging shareholders who invested in Mylan NV and currently hold any of those shares to contact our office for a free consultation by submitting our free consultation form online or calling our office toll free at (888)-252-0048.
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The attorneys at Gilman Law have over 35 years of experience in securities class action law suits and have been involved in all major aspects of securities litigation. Our experienced securities attorneys focus on cases involving stock manipulation, securities fraud, investment fraud, shareholder rights violations, and securities arbitration.