| COMPANY |
Depomed, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
17-cv-04830 |
| JUDGE |
The Hon. Jon S. Tigar |
| CLASS PERIOD |
February 26, 2015 and August 7, 2017 |
| SECURITY TYPE |
Common Stock |
Case Background:
On August 18, 2017, the initial complaint in this securities class action was filed against Depomed, Inc. (“Depomed” or the “Company”) and certain of Depomed’s directors, officers and underwriters, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit brought on behalf of all persons or entities who purchased or otherwise acquired Depomed securities between July 29, 2015 and August 7, 2017, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Depomed engaged in questionable practices in connection with the sales and marketing of the Company’s opioid products; (2) the foregoing conduct, when it became known, would likely subject the Company to heightened legal and regulatory scrutiny; and (3) as a result, Depomed’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On August 13, 2021, Plaintiffs filed an Unopposed Motion for Preliminary Approval of Settlement. On March 21, 2022, the Court issued an Order Preliminarily Approving settlement. On August 29, 2022, the Court issued an Order granting Plaintiffs’ Motion for Final Approval of Settlement. This action has concluded.
The deadline to file a claim is August 17, 2022. If you have any questions or need further information about this settlement, you may go to the following website, http://www.depomedsecuritieslitigation.com/, or you can contact the claims administrator, Analytics Consulting LLC at 1-866-327-1934.
If you wish to discuss this action or have any questions concehttp://www.depomedsecuritieslitigation.com/rning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.