The Shareholders Foundation announces that an investor, who purchased shares of Pacira Pharmaceuticals Inc (NASDAQ:PCRX), filed a lawsuit over alleged violations of Federal Securities Laws by Pacira Pharmaceuticals in connection with certain allegedly false and misleading statements made between April 9, 2012 and September 24, 2014.
Investors who purchased shares of Pacira Pharmaceuticals Inc (NASDAQ:PCRX) have certain options and for certain investors are short and strict deadlines running. Deadline: December 2, 2014. NASDAQ:PCRX investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Pacira Pharmaceuticals Inc (NASDAQ:PCRX) common shares between April 9, 2012 and September 24, 2014, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims 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.
Pacira Pharmaceuticals Inc reported that its annual Total Revenue rose from $14.56 million in 2010 to $85.55 million in 2013. Shares of Pacira Pharmaceuticals Inc (NASDAQ:PCRX) grew from under $8 per share in early 2012 to as high as $109.94 per share in late August 2014.
Then on September 25, 2014, Pacira Pharmaceuticals Inc 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.
On October 14, 2014, NASDAQ:PCRX shares closed at $99.37 per share.
Those who purchased shares of Pacira Pharmaceuticals Inc have certain options and should contact the Shareholders Foundation.
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