Questcor Can't Kick Securities Fraud Case

Law360, Los Angeles (October 02, 2013, 4:15 PM ET) -- A California federal judge on Tuesday kept alive most of a securities fraud class action against Questcor Pharmaceuticals Inc., finding investors had sufficiently alleged the company had misrepresented the clinical support for its Acthar drug and the stability of insurance reimbursement rates.

U.S. District Dolly M. Gee said Questcor shareholders could proceed with fraud claims based on three out of four categories of false and misleading statements alleged in a consolidated class action. The proposed class says Questcor lied about the efficacy of Acthar, which accounts...
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