SOURCE: Izard Nobel LLP

September 13, 2010 17:38 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Acura Pharmaceuticals, Inc.

WEST HARTFORD, CT--(Marketwire - September 13, 2010) -  The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of Illinois on behalf of purchasers of the common stock of Acura Pharmaceuticals, Inc. ("Acura" or the "Company") (NASDAQ: ACUR) between February 21, 2006 and April 22, 2010 (the "Class Period"). 

The Complaint charges that Acura and certain of its officers and directors violated federal securities laws. Specifically, the Complaint alleges that defendants concealed the following material adverse facts about the drug Acurox: (i) Acura's Aversion Technology was nowhere near effective enough to warrant approval; (ii) the Company's clinical data was defective and its clinical studies were not properly designed; (iii) Acura had wholly ignored specific directives from FDA over the past four years as to specific clinical trials and evidence Acura had to demonstrate; and (iv) no evidence had ever been presented to the FDA that the niacin additive discouraged abusers from abusing oxycodone.

On April 22, 2010, the FDA Joint Panel voted 19-1 against approving Acurox and it was reported that the FDA had been prodding Acura to demonstrate the deterrent efficacy of niacin since at least May 2009.

If you are a member of the class, you may, no later than November 9, 2010, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/acurapharmaceuticals/, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

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