Perrigo, Investors Must Go To Trial Over Co.'s $1.9B Tax Bill

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Law360 (July 14, 2021, 6:50 PM EDT) — What caused Perrigo Co.’s value to collapse in 2018 is a factual issue that must be determined at trial, a federal court said in rejecting dueling motions for a judgment brought by the pharmaceutical giant and disgruntled investors.

The case centers on a 30% drop in Perrigo’s stock price in December 2018, which the investors attribute to the company’s failure to disclose a potential €1.6 billion ($1.9 billion) tax bill in filings with the U.S. Securities and Exchange Commission. A New York federal court ruled Tuesday that the causation is a factual issue that must be determined at a trial.

An expert…