Depomed Inc (NASDAQ:DEPO) Investor Securities Class Action Lawsuit 08/18/2017

If you purchased a significant amount of shares of Depomed Inc (NASDAQ:DEPO) between February 26, 2015 and August 7, 2017, and / or if you purchased any NASDAQ:DEPO shares prior to February 2015 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: October 17, 2017. NASDAQ:DEPO investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Depomed
Case Name: 
Depomed Shareholder Class Action Lawsuit 08/18/2017
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: DEPO
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
08/18/2017
Class Period Begin: 
02/26/2015
Class Period End: 
08/07/2017
Court of Filing: 
U.S. District Court for the Northern District of California
Deadline To File for Lead: 
10/17/2017
Summary: 

August 18, 2017 (Shareholders Foundation) - An investor in shares of Depomed Inc (NASDAQ:DEPO) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Depomed Inc in connection with certain allegedly false and misleading statements made between February 26, 2015 and August 7, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Depomed Inc (NASDAQ:DEPO) common shares between February 26, 2015 and August 7, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 26, 2015 and August 7, 2017, the Defendants made false and/or misleading statements and/or failed to disclose that Depomed engaged in questionable practices in connection with the sales and marketing of the Company’s opioid products, that the foregoing conduct, when it became known, would likely subject the Company to heightened legal and regulatory scrutiny, and that as a result, Depomed’s public statements were materially false and misleading at all relevant times.

Newark, CA based Depomed, Inc. is a specialty pharmaceutical company. Depomed Inc reported that its annual Total Revenue rose from $342.72 million in 2015 to $455.90 million in 2016 and that its Net Loss increased from $75.74 million in 2015 to $88.72 million in 2016.

On August 7, 2017, during aftermarket hours, Depomed Inc announced that it had received a request for information relating to the promotion of opioids from the U.S. Senate Committee on Homeland Security and Governmental Affairs, as well as from the Office of the Attorney General of Maryland and the U.S. Department of Justice.