BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming May 9, 2016 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Horizon Pharma plc (“Horizon Pharma” or the “Company”) (NYSE: HZNP) securities between March 13, 2014 and February 26, 2016, inclusive (the “Class Period”). Horizon Pharma investors have until May 9, 2016 to file a lead plaintiff motion.
On February 29, 2016, Horizon Pharma disclosed in its 2015 annual report that it received a subpoena in November 2015 from the Office of the U.S. Attorney requesting documents and information related to the Company's patient assistance programs, sales, and marketing activities. On this news, Horizon Pharma stock fell 13%, to close at $17.16 on February 29, 2016, thereby injuring investors.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Horizon’s Prescriptions Made Easy (“PME”) program was designed to artificially inflate the prices of minor differentiation standard retail drugs; (2) sales revenues from drugs sold through Horizon’s PME program were unsustainable at these inflated price levels; and (3) Horizon’s use of its PME program left the Company subject to increased regulatory risks.
If you purchased Horizon Pharma shares, you may move the Court no later than May 9, 2016 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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