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Questcor Pharmaceuticals, Inc. (Headquarters) (QSC) Investor Lawsuit Over Alleged False and Misleading Statements Announced by Shareholders Foundation


10/2/2012 9:33:37 AM

SAN DIEGO, CA--(Marketwire - October 02, 2012) -

The Shareholders Foundation, Inc. announces that a lawsuit was filed by an investor in Questcor Pharmaceuticals, Inc. (QCOR) shares over alleged securities laws violations by Questcor Pharmaceuticals, Inc. in connection with certain allegedly false and misleading statements regarding its injectable drug H.P. Acthar Gel.

Investors who purchased shares of Questcor Pharmaceuticals, Inc. (QCOR) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

The plaintiff alleges that Questcor Pharmaceuticals, Inc. and certain of its officers and directors issued between April 26, 2011 and September 21, 2012 allegedly false and misleading statements about the effectiveness of Acthar as a treatment for multiple sclerosis and nephrotic syndrome, making it allegedly impossible for shareholders to gain a meaningful or realistic understanding of the drug's prospects and market success.

On September 24, 2012, Questcor Pharmaceuticals, Inc. disclosed in a filing with the SEC that on September 21, 2012, Questcor Pharmaceuticals, Inc. became aware of a U.S. government investigation involving Questcor Pharmaceuticals' promotional practices.

Earlier Aetna Inc. said it would limit coverage of Questcor's top-selling drug, H.P. Acthar. Aetna issued a Clinical Policy Bulletin stating that based on review of medical studies Acthar was "not medically necessary" for certain conditions for which it has been prescribed and as a result Aetna would limit the coverage of H.P. Acthar.

Shares of Questcor Pharmaceuticals, Inc. dropped from as high as $50.52 on September 18, 2012 to as low as $17.75 per share on September 27, 2012.

Those who purchased shares of Questcor Pharmaceuticals, Inc., have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.


CONTACT:
Shareholders Foundation, Inc.
Trevor Allen
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108


Read at BioSpace.com

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