The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Depomed, Inc. (NASDAQ : DEPO) securities between February 26, 2015 and August 7, 2017.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Depomed engaged in questionable practices in connection with the sales and marketing of the Company’s opioid products; (ii) the foregoing conduct, when it became known, would likely subject the Company to heightened legal and regulatory scrutiny; and (iii) as a result, Depomed’s public statements were materially false and misleading at all relevant times.
On August 7, 2017, post-market, Depomed disclosed that the Company “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 the Company had received “subpoenas related to opioid sales and marketing from the Office of the Attorney General of Maryland and the United States Department of Justice.”
If you suffered a loss in Depomed, Inc. 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.
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