SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Pacira Pharmaceuticals, Inc. - PCRX
NEW YORK, Sept. 25, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Pacira Pharmaceuticals, Inc. ("Pacira" or the "Company") (NASDAQ: PCRX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Pacira and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On September 25, 2014, the Company announced that it received a Warning Letter from the U.S. Food and Drug Administration's ("FDA") Office of Prescription Drug Promotion referencing certain promotional materials for EXPAREL® (bupivacaine liposome injectable suspension), an injectable drug that numbs post-surgical pain.
In the letter, the FDA said Pacira promotes its drug EXPAREL as being able to work for up to 72 hours when it has only been approved for 24-hour pain relief. "These claims overstate Exparel's efficacy and are misleading," the FDA said in the letter.
On this news, shares of Pacira fell $4.70 per share to $101.58, or more than 4.42%, in intraday trading on September 25, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, 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 70 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
[email protected]
SOURCE Pomerantz LLP
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