Questcor Execs Hid Athcor Woes To Pad Price, Suit Says

Law360, New York (October 12, 2012, 5:47 PM EDT) -- A Questcor Pharmaceuticals Inc. shareholder on Thursday lodged a derivative complaint against the company's top executives, accusing them of lying about the efficacy of their main drug to inflate the price of the company's stock shortly before Aetna Inc. reduced reimbursements for it.

Plaintiff James Tripoli alleges Questcor's president and CEO Don M. Bailey, chief financial officer Michael H. Mulroy, chief operating officer Stephen L. Cartt and eight other officers and directors misrepresented the value of Athcar, which can be prescribed for 19 different problems including...
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