NEW YORK, Aug. 21, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against of Depomed, Inc. ("Depomed" or the "Company") (NASDAQ: DEPO) securities and certain of its officers, on behalf of a class who purchased Depomed securities between February 26, 2015 and August 7, 2017, both dates inclusive, (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/depo.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies and/or failed to disclose that: (1) Depomed engaged in questionable practices in connection with the sales and marketing of the Company's opioid products; (2) the foregoing conduct, when it became known, would likely subject the Company to heightened legal and regulatory scrutiny; and (3) consequently, Depomed's public statements were materially false and misleading at all relevant times.
On August 7, 2017, after-market hours, Depomed revealed that it had received notice from the U.S. Senate Committee on Homeland Security and Governmental Affairs and from the Office of the Attorney General of Maryland and the U.S. Department of Justice requesting information relating to the promotion of opioids. Following this news, Depomed stock dropped $3.09 per share, or 33.42%, to close at $6.15 on August 8, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/depo or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Depomed you have until October 17, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.