BENSALEM, Pa.--(BUSINESS WIRE)-- Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of a class (the “Class”) consisting of all purchasers of the common stock of Questcor Pharmaceuticals, Inc. (“Questcor” or the “Company”) (NASDAQ:QCOR) between April 26, 2011 and September 21, 2012, inclusive (the “Class Period”).
Questcor is a biopharmaceutical company that provides prescription drugs for the treatment of multiple sclerosis, nephrotic syndrome and infantile spasms indications. The Company primarily offers H.P. Acthar Gel, an injectable drug for the treatment of acute exacerbations of multiple sclerosis in adults. The Complaint alleges that during the Class Period 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. Specifically, defendants misrepresented and/or failed to disclose that: (1) Questcor lacked clinical evidence to support the use of Acthar for indications other than infantile spasms; (2) Questcor had engaged in questionable tactics to promote the sale and use of Acthar in the treatment of multiple sclerosis and nephrotic syndrome; and (3) Questcor lacked a reasonable basis to make positive statements about the Company or its outlook, including statements about the efficacy and potential market growth for Acthar.
To be a member of the Class, you need not take any action at this time or you may retain counsel of your choice. If you purchased Questcor common stock between April 26, 2011 and September 21, 2012, if you wish to discuss this action or have any questions concerning this Notice 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 firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
Source: Law Offices of Howard G. Smith