Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Central District of California on behalf of all persons or entities that purchased the securities of Questcor Pharmaceuticals, Inc. (“Questcor” or the “Company”) (NASDAQ GS: QCOR) between April 26, 2011 and September 21, 2012, inclusive, (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company, certain of its officers and directors (the “Complaint”).
If you purchased shares of Questcor during the Class Period and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/questcor-pharmaceuticals-inc-qcor.
Questcor, a California corporation headquartered in Anaheim, California, is a biopharmaceutical company whose primary product helps patients with serious, difficult-to-treat medical conditions. The Company’s primary product is H.P. Acthar® Gel (“Acthar”), an injectable drug that is approved by the U.S. Food and Drug Administration (“FDA”) for the treatment of 19 indications, including Multiple Sclerosis (“MS”), Nephrotic Syndrome (“NS”), and Infantile Spasms (“IS”). The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business operations, financial condition and prospects. Specifically, the Complaint alleges that the defendants knew, but concealed from the investing public: (1) that Questcor lacked clinical evidence to support the use of Acthar for indications other than IS; (2) that Questcor had engaged in questionable tactics to promote the sale and use of Acthar in the treatment of MS and NS; and (3) that Questcor lacked a reasonable basis to make positive statements about the Company or its outlook, including statements about the effectiveness of and potential market growth for Acthar. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.