SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Otsuka Holdings Co., Ltd--OTSKY
NEW YORK, Dec. 6, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Otsuka Holdings Co., Ltd ("Otsuka" or the "Company") (OTC: OTSKY). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/otsky.
The investigation concerns whether Otsuka and certain of its officers and/or directors have violated Federal Securities Laws.
On October 12, 2017, CNN.com published an article entitled "The little red pill being pushed on the elderly." The article described the marketing efforts of Otsuka'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, CNN.com 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, CNN.com published an article 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." On this news, Otsuka's American Depositary Receipt price had fallen on December 5, 2017.
If you are aware of any facts relating to this investigation, or purchased Otsuka shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/otsky. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
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