BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that it is investigating potential claims against Questcor Pharmaceuticals, Inc. (“Questcor” or the “Company”) (NASDAQ:QCOR) concerning possible violations of federal securities laws. The investigation is related to allegations that certain statements issued by the Company between April 26, 2011 and September 21, 2012 concerning the Company’s financial performance and prospects were false and misleading.
Questcor is a biopharmaceutical company that provides prescription drugs for the treatment of multiple sclerosis, nephrotic syndrome and infantile spasms indications. The Company’s primary product is H.P. Acthar Gel, an injectable drug for the treatment of acute exacerbations of multiple sclerosis in adults. The investigation concerns allegations that the Company and certain of its executive officers violated federal securities laws by issuing false and misleading statements about the effectiveness of Acthar as a treatment for multiple sclerosis and nephrotic syndrome.
On September 24, 2012 Questcor disclosed that the U.S. government has commenced an investigation into the Company’s promotional practices. Following this news, the price of Questcor shares dropped 37%, or $11.05 per share, to close at $19.08 per share on September 24, 2012.
If you purchased Questcor common stock between April 26, 2011 and September 21, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll-Free at 888-638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
Source: Law Offices of Howard G. Smith