LOS ANGELES, Aug. 24, 2017 /PRNewswire/ -- Lundin Law PC, a shareholder rights firm, announces the filing of a class action lawsuit against Depomed, Inc. ("Depomed" or the "Company") (Nasdaq: DEPO) concerning possible violations of federal securities laws between February 26, 2015 and August 7, 2017, inclusive (the "Class Period"). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the October 17, 2017 lead plaintiff motion deadline.
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No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, throughout the Class Period, Depomed made false and/or misleading statements, and/or failed to disclose: that the Company engaged in questionable practices in connection with the sales and marketing of its opioid products; that this conduct, when it became known, would likely subject Depomed to heightened legal and regulatory scrutiny; and that as a result of the above, the Company's public statements were materially false and misleading at all relevant times.
On August 7, 2017, Depomed announced that it "recently received a request for information from the ranking minority member of the United States Senate Committee on Homeland Security and Governmental Affairs related to the promotion of opioids" and that Depomed had also received "subpoenas related to opioid sales and marketing from the Office of the Attorney General of Maryland and the United States Department of Justice." Upon release of this information, shares of Depomed fell in value, which caused investors harm according to the Complaint.
Lundin Law PC was founded by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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SOURCE Lundin Law PC