Why Endo International Shares Are Soaring Again Today
Shares of Endo International (NASDAQ: ENDP) were soaring 27.3% higher as of 11:21 a.m. EDT on Tuesday. The drug stock jumped 13% yesterday on speculation that settlement of an opioid-related lawsuit could be on the way. Endo confirmed Tuesday morning that it had reached a settlement in principle for two Ohio lawsuits collectively known as the "Track 1 Cases."
Investors were relieved that there appears to be an end in sight to the lawsuits filed by the Ohio counties of Cuyahoga and Summit. They were perhaps even happier with the specific terms of the settlement in principle.
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Source Fool.com
