BENSALEM, Pa.--(BUSINESS WIRE)-- Law Offices of Howard G. Smith announces that shareholders of Questcor Pharmaceuticals, Inc. (“Questcor” or the “Company”) (NASDAQ:QCOR) have until November 26, 2012 to move the Court to serve as lead plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising all purchasers of the securities of Questcor between April 4, 2011 and September 21, 2012, inclusive (the “Class Period”).
Questcor is a biopharmaceutical company. Its primary product is H.P. Acthar® Gel, an injectable drug approved by the FDA for the treatment of acute exacerbations of multiple sclerosis in adults, nephrotic syndrome, and infantile spasms in children under two years of age.
The Complaint alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, defendants misrepresented and/or failed to disclose that: (i) the Company was disseminating false and misleading statements to the public concerning the efficacy of Acthar as a treatment for multiple sclerosis and for nephrotic syndrome; (ii) the Company was marketing and promoting Acthar aggressively as a treatment for these conditions, with an inadequate compliance program; and (iii) as a result of the above, the Company’s financial statements were materially false and misleading at all relevant times.
If you are a member of the Class described above, you have certain rights, and have until November 26, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, or may retain counsel of your choice. If you wish to discuss this action or learn more concerning 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