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Kahn Swick & Foti, LLC and Former Louisiana State Attorney General Remind Investors With Large Financial Interests (Over $100,0

^{Published on 2010-11-04 03:00:36 - Market Wire}
 

NEW ORLEANS--([ BUSINESS WIRE ])--Kahn Swick & Foti, LLC ("KSF") and its partner, the former Louisiana Attorney General Charles C. Foti, Jr. remind investors that they have only until November 9, 2010, to file lead plaintiff applications in a securities class action lawsuit in the United States District Court for the Northern District of Illinois on behalf of purchasers of Acura Pharmaceuticals, Inc. ("Acura") (Nasdaq: ACUR) common stock during the period between February 21, 2006 and April 22, 2010, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the aExchange Acta).

What You May Do

If you are an Acura shareholder and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn ([ lewis.kahn@ksfcounsel.com ]), toll free 1-866-467-1400, ext. 200, or via cell phone any time at 504-301-7900, or KSF Director of Client Relations, Neil Rothstein, Esq. ([ neil.rothstein@ksfcounsel.com ]), toll free at 877-694-9510, or via cell phone any time at 330-860-4092. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must act urgently and request this position by application to the Court by November 9, 2010. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. KSF encourages both institutional and individual purchasers of Acura to contact the firm. The ultimate resolution of any securities class action is strengthened through the involvement of aggrieved shareholders and lead plaintiffs who have large financial interests.

About the Lawsuit

The complaint alleges that Acura withheld critical information from shareholders concerning the effectiveness of its drug Acurox. The market was stunned on April 20, 2010, when the FDA announced that the Companya™s clinical data and studies were substandard, among a host of other pronouncements. On this news, Acuraa™s stock price declined 42.5% in one day, to close at $6.25 in afterhours trading. More, after the FDA Joint Panel voted 19-1 against approving Acurox, in addition to the news that the FDA had been prodding Acura to demonstrate the deterrent efficacy of niacin a" the oral abuse-deterrent component of Acurox a" since at least May of 2009, Acuraa™s share price declined 39%, to $3.20 per share, in the pre-market trading on April 23, 2010.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders. Recent cases include In re Virgin Mobile USA IPO Litigation,2:07-cv-05619-SDW-MCA (D. N.J.), Co-Lead Counsel, $19.5 Million Settlement Preliminarily Approved; In re BigBand Networks, Inc Securities Litigation,3:07-CV-05101-SBA (C.D. Cal.),Co-Lead Counsel, $11 million settlement; In re U.S. Auto Parts Networks, Inc. Securities Litigation,2:07-cv-02030-GW-JC (C.D. Cal.),Lead Counsel, $10 million settlement. KSF is also federally court-appointed Co-Lead Counsel in THE shareholder derivative cases against AIG and Bank of America (Merrill Lynch merger) emanating from their recent multi-billion dollar economic declines.

To learn more about KSF, you may visit[ www.ksfcounsel.com ].