Health & Fitness
Tue, September 25, 2012
NEW ORLEANS--([ BUSINESS WIRE ])--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC announce that KSF has commenced an investigation into Questcor Pharmaceuticals, Inc. (Nasdaq: QCOR).
"became aware of a U.S. government investigation involving the company's promotional practices."
Shares of Questcor Pharmaceuticals (QCOR) crashed to a 52-week low early Monday after the drug-maker revealed that the company was under a government investigation by the Food and Drug Administration. This investigation relates to the companyas marketing of its only product, Acthar.
The news came to light in an SEC filing, which said only that the firm "became aware of a U.S. government investigation involving the company's promotional practices." Though it offered no further details, Questcor's promotional practices have recently been criticized, as recently as last week, on news that Aetna had decided to pull coverage on all but one indication of Acthar.
The combination of last week's and this week's bad news brought the stock down to $20.00 per share for the first time since May 2011. On Monday alone, Questcor shares declined over 37%.
KSFas investigation is focusing on whether Questcor and/or its officers and directors violated state or federal securities laws.
If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn ([ lewis.kahn@ksfcounsel.com ]), toll free, 877-515-1850, or via cell phone any time at 504-301-7900.
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.
To learn more about KSF, you may visit [ www.ksfcounsel.com ].