NEW YORK, April 16, 2015 /PRNewswire/ -- Bernstein Liebhard LLP is investigating whether the Board of Directors of Pacira Pharmaceuticals ("Pacira" or the "Company") (NASDAQ: PCRX) breached their fiduciary duties by allegedly failing to ensure compliance with U.S. Food and Drug Administration regulations.
Pacira is a specialty pharmaceutical company focused on the clinical and commercial development of new products that meet the needs of acute care practitioners and their patients. The Company's flagship product, EXPAREL® (bupivacaine liposome injectable suspension), a non-opioid local analgesic for postsurgical pain control, was commercially launched in the United States in April 2012.
Pacira announced today that it received a subpoena from the U.S. Department of Justice, U.S. Attorney's Office for the District of New Jersey, requiring the production of a broad range of documents pertaining to marketing and promotional practices related to EXPAREL.
Pacira stock plummeted from an April 15, 2015 closing price of $92.39 to open on April 16, 2015 at $84.26 – a drop of over 7% that caused a large loss in Pacira's market capitalization.
If you currently hold Pacira shares and are interested in discussing your rights, and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or [email protected].
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs' firms in the country.
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SOURCE Bernstein Liebhard LLP