Questcor Pays $38M To Settle Securities Class Action

Law360, Los Angeles (April 13, 2015, 8:25 PM EDT) -- Questcor Pharmaceuticals Inc. on Monday agreed to pay $38 million to end a consolidated securities class action alleging the company lies about the efficacy of its biggest moneymaker, multiple sclerosis drug Acthar.

The deal comes after hard-fought litigation, and on the heels of U.S. District Judge Dolly Gee's decision to grant class certification in November. In the deal, Questcor maintains it did not commit any wrongdoing, but said it wished to avoid complex and prolonged litigation.

The suit, led by Plumbers and Pipefitters National Pension Fund and...
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