NEW YORK, Aug. 18, 2017 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed
against Depomed, Inc. (“Depomed” or the “Company”) (NASDAQ:DEPO) and certain of its officers. The class action, filed
in United States District Court, Northern District of California, and docketed under 17-cv-04830, is on behalf of a class
consisting of investors who purchased or otherwise acquired Depomed securities, seeking to recover compensable damages caused by
defendants’ violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased Depomed securities between February 26, 2015 and August 7, 2017, both
dates inclusive, you have until October 17, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of
the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, Ext. 9980. Those who
inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
[Click here to join this class action]
Depomed, a specialty pharmaceutical company, engages in the development, sale, and licensing of products for
pain and other central nervous system conditions in the United States. Among other drugs, Depomed’s portfolio includes the
opioids Nucynta (tapentadol) and Lazanda (fentanyl).
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading
statements regarding the Company’s business, operational and compliance policies. Specifically, 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 “recently 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 Depomed had also received “subpoenas related to opioid sales and marketing from the Office of the
Attorney General of Maryland and the United States 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 Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the
premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz,
known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80
years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities
fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on
behalf of class members. See www.pomerantzlaw.com
CONTACT: Robert S. Willoughby Pomerantz LLP rswilloughby@pomlaw.com