According to the law firm press release, Depomed, Inc, 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, operations 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.

On July 30, 2021, the parties entered into a Stipulation and Agreement of Settlement. The Dismissal appeal was voluntarily dismissed on August 3. The Court granted preliminary approval of the Settlement on March 21, 2022.

On July 28, 2022, Lead Plaintiffs' Counsel notified the Court of the death of one of the Lead Plaintiffs and of the new representative for that Lead Plaintiff.

On August 29, 2022, the Court the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

On May 19, 2023, the Court issued an Order authorizing distribution of the net Settlement fund.

On January 31, 2024, the Court issued an Order approving distribution of the Settlement's balance to the cy pres recipient.