According to the Complaint, Epocrates, Inc. provides subscriptions for mobile drug reference tools and electronic health records to healthcare professionals, as well as interactive services to the healthcare industry.

The Complaint alleges that Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts, about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company's pharmaceutical clients were awaiting guidance relating to use of advertising on the Internet and through social media from the United States Food and Drug Administration ("FDA"); (2) that, as a result, the Company's pharmaceutical clients were increasingly delaying their marketing activities as they awaited guidance from the FDA; (3) the FDA's delays in issuing guidance relating to the Internet and social media was causing expanding regulatory queues for Epocrates; (4) that the expanding regulatory queues were negatively impacting the Company's sales and revenue growth; and (5) that, as a result of the foregoing, the Defendants' positive statements about the Company's business, operations, and prospects lacked a reasonable basis and/or were materially false and misleading at all relevant times.

On August 9, 2013, the Court issued an Order appointing lead Plaintiff and approving the selection of lead Counsel.

On October 8, 2013, the parties filed a Notice that Lead Plaintiff voluntarily dismisses their claims against certain Defendants. On the same date, Lead Plaintiff filed an Amended Complaint.

On June 25, 2014, the Lead Plaintiff filed a Second Amended Complaint. A Third Amended Complaint was filed on October 23.

On March 13, 2015, the Court issued an Order denying Defendants' motion to dismiss.

On May 17, 2016, this case was settled and dismissed.