BENSALEM, Pa., Oct. 16, 2017 (GLOBE NEWSWIRE) — Law Offices of Howard G. Smith reminds investors of the October 17, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Depomed, Inc. (“Depomed” or the “Company”) (NASDAQ:DEPO) securities between February 26, 2015 and August 7, 2017, inclusive (the “Class Period”). Depomed investors have until October 17, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Depomed investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On August 7, 2017, Depomed 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 the Office of the Attorney General of Maryland and the U.S. Department of Justice.
On this news, Depomed’s share price fell $3.09, or 33.42%, to close at $6.15 on August 8, 2017.
The Complaint filed in this class action alleges that throughout the Class Period, the Company made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the Company 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.
If you purchased shares of Depomed during the Class Period you may move the Court no later than October 17, 2017 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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