New York charges Endo with insurance fraud over opioid claims

This post originally appeared on Reuters: Health.

NEW YORK (Reuters) – New York state filed civil charges on Wednesday accusing Endo International Plc of insurance fraud for misrepresenting the safety and efficacy of its opioid drugs.

Governor Andrew Cuomo said the charges brought by New York’s Department of Financial Services are the second in that regulator’s probe into entities that contributed to the nation’s opioid crisis.

Endo shares were down 53 cents, or 11.8%, at $3.98 in late afternoon trading, with much of the decline coming after New York announced the charges.

The company did not immediately respond to a request for comment. New York brought similar charges against Mallinckrodt Plc on April 21.

Reporting by Jonathan Stempel in New York; Editing by Tom Brown

This post originally appeared on Reuters: Health.