The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Pacira Pharmaceuticals Inc (NASDAQ:PCRX) is ongoing concerning potential breaches of fiduciary duties by certain directors and officers of Pacira Pharmaceuticals.
Investors who are current long term investors in Pacira Pharmaceuticals Inc (NASDAQ:PCRX) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm for current long term investors in NASDAQ:PCRX stocks follows a lawsuit filed recently against Pacira Pharmaceuticals Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:PCRX stocks, concerns whether certain Pacira Pharmaceuticals officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the District of New Jersey the plaintiff alleges that between April 9, 2012 and September 24, 2014 Defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Pacira Pharmaceuticals Inc was overstating the efficacy of its EXPAREL drug, that Pacira Pharmaceuticals Inc was improperly promoting its EXPAREL drug by touting its ability to be effective for up to 72 hours, when in fact, it is only approved for 24 hours of pain relief, that Pacira Pharmaceuticals Inc improperly claimed that EXPAREL is safe for use in cholecystectomy and colectomy procedures, when in fact, approved labeling does not provide instructions for, or indicate that EXPAREL will be safe and effective for postsurgical pain, if used in surgical procedures other than hemorrhoidectomy or bunionectomy, thata substantial portion of Pacira Pharmaceuticals Inc’s revenues were derived from off label marketing, and that and as a result of the above, Pacira Pharmaceuticals Inc’s financial statements were materially false and misleading at all relevant times.
On September 25, 2014, Pacira Pharmaceuticals Inc (NASDAQ:PCRX) announced that it received a Warning Letter from the U.S. Food and Drug Administration’s (FDA) Office of Prescription Drug Promotion (OPDP) referencing certain promotional materials on EXPAREL® (bupivacaine liposome injectable suspension). Shares of Pacira Pharmaceuticals Inc (NASDAQ:PCRX) declined from $106.29 per share on September 24, 2014, to $92.74 per share during September 26, 2014, respectively $90.50 per share on October 13, 2014.
On October 31, 2014, NASDAQ:PCRX shares closed at $92.82 per share.
Those who purchased shares of Pacira Pharmaceuticals Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego