NEW YORK, Oct. 6, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that a class action lawsuit has been filed on behalf of purchasers of the securities of Pacira Pharmaceuticals, Inc. (Nasdaq:PCRX) during the period from April 9, 2012 through September 24, 2014. The lawsuit seeks to recover investors' losses by asserting claims under the federal securities laws.
To join the Pacira class action, visit the firm's website at http://rosenlegal.com/cases-390.html, or call Phillip Kim or Kevin Chan toll-free at 866-767-3653; you may also email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
Pacira is a specialty pharmaceutical company whose products are used in hospitals and ambulatory surgery centers. One of its products, EXPAREL, has completed Phase III clinical trials for postsurgical analgesia-nerve block administration.
According to the lawsuit, Pacira and certain of its officers and directors materially misstated and/or failed to disclose that the Company: (i) overstated EXPAREL's efficacy; (ii) improperly promoted EXPAREL as being able to work for up to 72 hours despite it being only approved for 24-hour pain relief; (iii) improperly claimed EXPARAEL as safe and effective for use in cholecystectomy and colectomy, even though its approved labeling does not provide for such use; and (iv) derives a substantial portion of its revenue from off label marketing.
On September 25, 2014, Pacira revealed that it had received a Warning Letter from the U.S. Food and Drug Administration concerning the misleading marketing of EXPAREL. On this news, shares of Pacira fell $11.66 per share, or over 10%, to close at $94.62 per share on September 25, 2014.
If you wish to serve as lead plaintiff, you must move the Court no later than December 2, 2014. If you wish to join the litigation and recover your losses go to http://rosenlegal.com/cases-390.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.