Shareholder Rights Law Firm Johnson & Weaver, LLP is Appointed by the United States District Court to Pursue Claims for the Benefit of Questcor and Its Shareholders
The United States District Court for the Central District of California
recently appointed Johnson
& Weaver, LLP to pursue a derivative action on behalf of
Questcor Pharmaceuticals Inc. (NASDAQ: QCOR) against certain officers
and directors of the company for allegedly breaching their fiduciary
duties to the company. A shareholder derivative action is recognized by
the law to allow shareholders to enforce a company’s rights when the
board of directors fails or refuses to do so. The derivative action is
an effective tool for calling the management and the board of directors
to account for their wrongs against the corporation.
Several class action lawsuits were filed against Questcor in September
and October 2012. These lawsuits alleged that certain defendants made
false and misleading statements about the company’s principal
pharmaceutical product, engaged in improper marketing practices for that
product, and engaged in unlawful insider trading.
“The court appointed my firm to represent the interests of Questcor and
its shareholders who continue to hold their stock,” said Frank J.
Johnson, partner of Johnson & Weaver, LLP. “If Questcor is damaged as a
result of any false statements made by certain individuals, then those
individuals rather than the company should be held accountable.” In
addition to seeking damages, Mr. Johnson’s law firm is seeking
amendments to the company’s corporate governance to prevent the
reoccurrence of similar incidents. Questcor shareholders who have
questions about their legal rights and remedies should contact Mr.
Johnson or Shawn Fields at (619) 230-0063 or frankj@johnsonandweaver.com.
Johnson & Weaver, LLP is a nationally recognized shareholders’ rights
law firm. The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
