UPCOMING DEADLINE: Levi & Korsinsky Notifies Investors With Losses on Their
Investment in Questcor Pharmaceuticals, Inc. of Class Action Lawsuit and the
Deadline of November 26, 2012 to Seek a Lead Plaintiff Position -- QCOR
NEW YORK, Nov. 21, 2012 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a
class action lawsuit has been commenced in the United States District Court
for the Central District of California on behalf of investors who acquired
Questcor Pharmaceuticals, Inc. (Nasdaq:QCOR) securities between April 26, 2011
and September 21, 2012.
For more information, click here:
According to the complaint, Questcor concealed from the investing public
during the class period that Questcor: (a) lacked clinical evidence to support
the use of its drug Acthar for indications other than infantile spasms; (b)
had engaged in questionable tactics to promote the sale of Acthar in the
treatment of MS and nephrotic syndrome; and (c) lacked a reasonable basis to
make positive statements about the Company and its outlook.
On September 19, 2012, Citron Research reported that insurer Aetna Inc. had
reviewed the 19 indications for which the FDA had approved Acthar and
determined that clinical research supported only one of the 19 indications. On
this news, Questcor's stock plummeted $24.17 per share to close at $26.35 per
share on September 19, 2012. Then on September 24, 2012, Questcor announced in
an SEC filing that the U.S. government had initiated an investigation into the
Company's promotional practices. After this news, Questcor's stock dropped
$11.05 per share to close at $19.08 per share on September 24, 2012.
If you suffered a loss in Questcor you have until November 26, 2012 to request
that the Court appoint you as lead plaintiff. Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff. To obtain
additional information, contact Joseph E. Levi, Esq. either via email at
email@example.com or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York and Washington
D.C. The firm has extensive expertise in prosecuting securities litigation
involving financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. Attorney advertising. Prior results do
not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
Press spacebar to pause and continue. Press esc to stop.