LOS ANGELES--(BUSINESS WIRE)--
Glancy Prongay & Murray LLP (“GPM”) 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. To obtain information or participate in the class action, please visit the Depomed case page on our website at www.glancylaw.com/case/depomed-inc
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.
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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. 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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