The Law Office of Jonathan M. Stein, P.L. is investigating the officers and directors of Acura Pharmaceuticals, Inc. ("Acura" or the "Company") (Nasdaq:ACUR) for possible breaches of fiduciary duty and other violations of state and federal law. On September 10, 2010, a class action lawsuit was filed in the U.S. District Court for the Northern District of Illinois alleging that certain officers and directors of the Company violated the Securities Exchange Act of 1934 by concealing material adverse facts about the Company’s product Acurox, a drug containing oxycodone with a niacin additive.
The investigation involves whether the officers and directors of Acura breached their fiduciary duties to Acura stockholders by failing to disclose the truth about the effectiveness of Acurox and its proprietary “Aversion Technology” that supposedly provides abuse deterrent qualities to orally-administered drugs, such as Acurox. Specifically, on April 20, 2010, the FDA indicated that Acura's Aversion Technology was nowhere near effective enough to warrant approval, that the Company's clinical data was defective, that its clinical studies were not properly designed, that the Company had wholly ignored specific directives from FDA over the past four years as to specific clinical trials and evidence Acura had to demonstrate, and that no evidence had ever been presented to the FDA that the niacin additive discouraged abusers from abusing oxycodone.
If you currently own stock in Acura and wish to discuss your rights as a shareholder, or if you have information regarding the above investigation, please contact Jonathan M. Stein, Esq. either via email at
or by telephone at (561) 961-2244.
The Law Office of Jonathan M. Stein, P.L. represents shareholders and consumers in complex litigation, including class action and derivative litigation. More information about the firm is available through its website,
, and upon request from the firm. Jonathan M. Stein is the attorney responsible for the content of this release.