Law Offices of Howard G. Smith announces that it is investigating potential claims against Acura Pharmaceuticals, Inc. (“Acura Pharmaceuticals” or the “Company”) (NASDAQ:ACUR) concerning possible breaches of fiduciary duty or other violations of law by the Company’s board of directors. Acura Pharmaceuticals is a specialty pharmaceutical company, which engages in the research, development and manufacture of pharmaceutical product candidates utilizing the Company’s proprietary Aversion Technology, Impede Technology, and other technologies to provide abuse-deterrent features to tranquillizers, stimulants, sedatives, opioid analgesics and various other orally administered pharmaceutical drug products containing abusable active ingredients.
The investigation concerns allegations contained in a securities class action lawsuit filed September 10, 2010, in the United States District Court for the Northern District of Illinois. The lawsuit alleges that the Company and certain of its executive officers misrepresented or failed to disclose material adverse information concerning the efficacy of the Company’s lead product candidate, Acurox, and the drug’s prospects for approval by the U.S. Food and Drug Administration (“FDA”). Acurox is an orally administered immediate release analgesic containing oxycodone HCl as its active ingredient. On April 20, 2010, the FDA posted on its website briefing materials for an April 22, 2010, meeting to consider the New Drug Application of Acurox advising that, among other things, the Company’s Aversion Technology was not effective enough to warrant FDA approval, that its clinical studies were not properly designed and its clinical data defective, and that the Company had ignored directives from FDA as to specific clinical trials and evidence needed to demonstrate the safety and efficacy of Acurox.
If you purchased the securities of Acura Pharmaceuticals before 2006 through the present and still hold those shares, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement 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
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