DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a class action lawsuit has been filed against Pacira Pharmaceuticals, Inc. (“Pacira” or “Company”) (NasdaqGS: PCRX) and several officers and directors for acts taken during the period of April 9, 2012 to September 24, 2014 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Pacira. If you are an affected Pacira shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via e-mail at shareholder@powerstaylor.com. There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants misrepresented and/or failed to disclose that: a) Pacira was promoting its Exparel drug as being effective for up to 72 hours, but it is approved only for 24 hours of pain relief; b) Pacira improperly claimed that Exparel is safe for use in cholecystectomy and colectomy procedures, but its approved labeling does not provide instructions for, or indicate that Exparel will be safe and effective for, post surgical pain, if used in surgical procedures other than hemorrhoidectomy or bunionectomy; c) a substantial portion of Pacira’s revenues were derived from off label marketing; and d) due to the above, Pacira’s financial statements were materially false and misleading at all relevant times. According to the complaint, when the truth seeped into the market, Pacira stock dropped.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
