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Case Status:    DISMISSED    
On or around 04/17/2020 (Other)

Filing Date: August 18, 2017

According to the law firm press release, Depomed, a specialty pharmaceutical company, engages in the development, sale, and licensing of products for pain and other central nervous system conditions in the United States. Among other drugs, Depomed’s portfolio includes the opioids Nucynta (tapentadol) and Lazanda (fentanyl).

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants 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.

On December 8, 2017, the Court issued an Order appointing Lead Plaintiffs and Counsel. On February 6, 2018, Lead Plaintiffs filed an amended Complaint. Defendants filed a Motion to Dismiss the amended Complaint on April 9. On August 21, the Court issued an Order noting the name change of Defendant Depomed, Inc. to Assertio Therapeutics, Inc. On March 18, 2019, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. On May 2, Plaintiffs filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on June 17. On March 11, 2020, the Court granted Defendants' Motion to Dismiss and dismissed the case with prejudice. Lead Plaintiffs filed a Notice appealing the Court's Dismissal Order on April 9.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Major Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: DEPO
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 17-CV-04830
JUDGE: Hon. Jon S. Tigar
DATE FILED: 08/18/2017
CLASS PERIOD START: 02/26/2015
CLASS PERIOD END: 08/07/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 17-CV-04830
JUDGE: Hon. Jon S. Tigar
DATE FILED: 05/02/2019
CLASS PERIOD START: 07/29/2015
CLASS PERIOD END: 08/07/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky (San Francisco)
No Document Title Filing Date
—Related District Court Filings Data is not available