SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Teva Pharmaceuticals Industries Limited of Class Action Lawsuit and Upcoming Deadline – TEVA
NEW YORK, Nov. 02, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Teva Pharmaceuticals Industries Limited (“Teva” or the “Company”) (NYSE: TEVA) and certain of its officers. The class action, filed in United States District Court for the Eastern District of Pennsylvania, and docketed under 20-cv-04660, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired Teva securities between October 29, 2015 and August 18, 2020, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials. If you are a shareholder who purchased Teva securities during the class period, you have until November 23, 2020, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at email@example.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. [Click here for information about joining the class action]Teva, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, and internationally.Among Teva’s products is Copaxone (glatiramer acetate), a prescription drug that is used to treat relapsing forms of multiple sclerosis (“MS”). Throughout the Class Period, Teva consistently described Copaxone as the Company’s “leading specialty medicine,” reporting Copaxone sales and revenues that consistently dwarfed the same metrics for other Teva specialty products. Teva attributed Copaxone’s commercial success to “having the right mix” of, among other things, “a fantastic underlying demand,” “patients hav[ing] access to it,” and an “unparalleled . . . track record of both efficacy and safety.”The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Teva had made substantial illegal kickback payments to charitable foundations to cover Medicare co-payment obligations of patients taking Copaxone; (ii) accordingly, Teva’s revenues derived from Copaxone were in part the product of unlawful conduct and thus unsustainable; (iii) the foregoing misconduct subjected Teva to a foreseeable risk of heightened regulatory scrutiny and enforcement, as well as reputational harm when the truth became known; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.On August 18, 2020, the United States Department of Justice (“DOJ”) issued a press release announcing that it had filed a complaint against Teva under the False Claims Act. Specifically, “[t]he government alleges that, from 2007 through 2015, Teva paid The Assistance Fund (TAF) and Chronic Disease Fund (CDF) with the intent and understanding that the foundations would use Teva’s money to cover the Medicare co-pays of patients taking Copaxone. During the same period, Teva raised the price of Copaxone from approximately $17,000 per year to over $73,000 per year.” On this news, Teva’s American depositary receipt (“ADR”) price fell $1.11 per ADR from its previous close on August 17, 2020, or 9.6%, to close at $10.48 per ADR on August 18, 2020, on unusually heavy trading volume.The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.CONTACT: Robert S. Willoughby Pomerantz LLP firstname.lastname@example.org 888-476-6529 ext. 7980
Ontario to release updated COVID-19 projections after locking down Toronto, Peel – CP24 Toronto's Breaking News
The Canadian Press
Published Thursday, November 26, 2020 6:03AM EST
Last Updated Thursday, November 26, 2020 7:05AM EST
TORONTO – Ontario health officials are expected to release new COVID-19 projections today.
It will be the first time they have released such data since sending the province’s two biggest virus hot spots — Toronto and Peel Region — into lockdown earlier this week.
Two weeks ago, the province unveiled modelling that showed Ontario could see as many as 6,500 new daily cases of COVID-19 by mid-December unless steps are taken to limit the spread of the virus.
It said the province would reach 2,500 new daily cases by that time if the growth rate was at three per cent, or 6,500 if the growth rate was at five per cent.
At the time, Dr. Adalsteinn Brown, one of the experts behind the projections, said a five per cent growth rate was “slightly optimistic.”
Premier Doug Ford announced he would lower thresholds for imposing stricter COVID-19 measures under the province’s colour-coded restrictions system the following day.
This report by The Canadian Press was first published Nov. 26, 2020.
Oil extends gains on surprise U.S. inventory draw amid vaccine rally – CNBC
U.S. oil rose for a fifth day on Thursday as a surprise drop in crude inventories extended a rally driven by hopes that vaccines would end the coronavirus pandemic and revive fuel demand.
Brent was up by 20 cents, or 0.4%, at $48.81 a barrel, after rising around 1.6% in the previous session. West Texas Intermediate crude was up by 14 cents, or 0.3%, at $45.85, having gained 1.8% on Wednesday.
Both benchmarks have risen about 9% this week, getting a boost after AstraZeneca said on Monday its Covid-19 vaccine could be up to 90% effective, adding to the potential armory to end the worst pandemic in a century.
U.S. oil stockpiles fell 754,000 barrels last week, data showed, while analysts in a Reuters poll had predicted a 127,000-barrel rise. Stockpiles at the Cushing, Oklahoma delivery point for WTI, fell 1.7 million barrels.
But gasoline demand for the week fell by 128,000 barrels per day (bpd) to 8.13 million bpd, the lowest since June.
“With new U.S. virus cases still at very high levels, we think that it probably won’t be until next year – once vaccines can have a material impact – that demand recovers to more normal levels,” Capital Economics said in a note.
U.S. President-elect Joe Biden has urged people to forgo big family gatherings, wear protective masks and maintain social distancing for the Thanksgiving holiday in the face of the surging coronavirus pandemic. But Americans are defying pleas from officials to stay home.
The United States has recorded 2.3 million new infections in the past two weeks.
Sask. suspends team sports, activities along with other tweaks to existing COVID-19 restrictions – CTV News
The Government of Saskatchewan has tweaked some of its COVID-19 restrictions for the province, including changes for sports, restaurants, places of worship and performance and gaming venues.
All team and group sports, activities, games, competitions, recitals and practices have been suspended, including hockey, curling, racquet sports, cheerleading, dance practices in group setting, etc.
The province is also discouraging gatherings of any size, outside of your immediate household.
These restrictions come into effect on Friday, Nov. 27.
SPORTS, FITNESS, DANCE
Team and group sport and fitness activities are suspended including activities, games, competitions, recitals and practices.
Persons under 18 may continue to train only in groups of fewer than eight. There must be at least three metres of distance between participants. Coaches and trainers are not counted so long as they are wearing masks.
Group fitness for all ages can continue in groups of eight or fewer, masks must be worn and physical distance of three metres must also be maintained.
INDOOR PUBLIC GATHERINGS
Indoor public banquets, conferences, wedding and funeral receptions in public venues are reduced to 30 people maximum. This restriction also applies to places of worship. The limit on private gatherings stays at five. Food and beverage cannot be present of served.
If your immediate household has five people or more, additional guests should not come over.
“Individuals, recurring caregivers, support personnel (i.e. therapists, nursing staff) and tradespersons (i.e. housekeeper, plumber) are permitted, though they should maintain two metre distancing and be masked during service provision,” the province said in a news release.
RESTAURANTS, BARS, ENTERTAINMENT
Restaurants and licensed establishments are now limited to four people per table. Capacity is also being reduced down to 30 at all casinos, bingo halls, arenas, live theatres, movie theatres, performing arts venues and any other facilities that are currently supporting a capacity of 150 people.
Establishments must keep guest information on all patrons.
The curfew on liquor sale remains.
Masks are now required in all indoor fitness activities with an exception for aquatic acitivites.
All persons in schools and daycares are now required to wear masks at all time, expect for during meals.
All employees and visitors at all businesses and workplaces are required to wear masks in all common areas. All residents employees and visitors of correctional facilities must wear a mask in all common areas.
Large retail spaces must reduce customer access to 50 per cent or four square metres of space per person.
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