San Diego, CA -- (SBWIRE) -- 01/19/2018 -- An investigation on behalf of investors of Otsuka Holdings Co. (OTCMKTS:OTSKY) ) shares over potential securities laws violations by Otsuka Holdings Co. was announced.
Investors who purchased shares of Otsuka Holdings Co. (OTCMKTS:OTSKY), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Otsuka Holdings Co. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On October 12, 2017, an article was published entitled, "The little red pill being pushed on the elderly." The article described the marketing efforts of Otsuka Holdings Co., Ltd.'s subsidiary Avanir Pharmaceuticals ("Avanir") with respect to Nuedexta, a treatment for pseudobulbar affect, and stated that the Company "aggressively targets frail and elderly nursing home residents for whom the drug may be unnecessary or even unsafe." The article further described "high-volume prescribing and advocacy efforts by doctors receiving payments from" Avanir, and reported that "[s]oon after Nuedexta hit the market in 2011, doctors, nurses and family members began filing reports of potential harm - ranging from rashes, dizziness and falls to comas and death."
On October 19, 2017, it was reported that Los Angeles City Attorney Mike Feuer had launched an investigation into Avanir, stating that "his office is seeking information and tips from the public to help determine whether state or federal laws have been broken in the sale, marketing or prescribing of Nuedexta."
On December 4, 2017, an article was published entitled, "Drugmaker paid doctors with problem records to promote its pill." The article reported that Avanir "paid nearly 500 doctors to speak or consult on its drug, Nuedexta, between 2013 and 2016, according to government data" and that "[t]hrough a review of the top prescribers and top paid physicians in this group, CNN identified a dozen who have been disciplined by state medical boards. These offenses included the harmful treatment of nursing home residents and 'grossly negligent acts' involving the inappropriate prescribing of dangerous and addictive drugs - resulting in probation, suspension, fines and revoked licenses."
Those who purchased shares of Otsuka Holdings Co. (OTCMKTS:OTSKY) have certain options and should contact the Shareholders Foundation.
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