SAN FRANCISCO, March 18, 2016 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm announces the filing of a securities fraud class action lawsuit against Horizon Pharma PLC (NASDAQ:HZNP) regarding misleading statements made to its investors pertaining to its Prescriptions Made Easy (PME) program, and alerts investors there is an May 9, 2016 lead plaintiff deadline. 

If you suffered losses because of your purchases of Horizon Pharma between March 13, 2014 and February 26, 2016, or have information that will help our investigation contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation by calling 510-725-3000, emailing HZNP@hbsslaw.com or visiting https://www.hbsslaw.com/cases/HZNP. The lawsuit was filed in the U.S. District Court for the Southern District of New York and investors have until May 9, 2016 to move the court to participate as a lead plaintiff.

The lawsuit filed against Horizon Pharma states that the company made false and/or misleading statements and/or failed to disclose that its PME program was designed to artificially inflate the prices of minor differentiation standard retail drugs. Additionally the company allegedly failed to inform investors that sales revenues from drugs sold through Horizons PME program were unsustainable at these inflated price levels and that Horizons use of its PME program left the company subject to increased regulatory risks.

The complaint also states that Horizon failed to disclose that it received a subpoena from the Office of the U.S. Attorney for the Southern District of New York in November 2015; and as a result of the foregoing, statements about Horizons’ business, operations and prospects were false and misleading and/or lacked a reasonable basis.

On February 29, 2016, Horizon disclosed in its 2015 annual report that the Company received a subpoena in November 2015 from the Office of the U.S. Attorney for the Southern District of New York for documents and information related to the company’s patient assistance programs. On this news, Horizons stock fell $2.63, or 13.3%, to close at $17.16 on February 29, 2016.

Whistleblowers: Persons with non-public information regarding Horizon Pharma should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email HZPN@hbsslaw.com.

About Hagens Berman
Hagens Berman is headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 510-725-3000

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.