Pernix Therapeutics Files Chapter 11 Bankruptcy Protection
Have you suffered losses investing in Pernix Therapeutics? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
Pernix Therapeutics, a specialty pharmaceutical company, reportedly filed for bankruptcy protection on February 18, 2019, according to a press announcement.
The company reportedly sold a handful of controversial medicines, including the hydrocodone painkiller Zohydro and migraine treatment Treximet, according to BioPharma Dive.
The biopharma reportedly went public in 2010 through a reverse merger with a real estate firm focused on golf courses.
After Pernix acquired the commercial rights for Zohydro for $383 million, the company apparently struggled to meet sales expectations and reportedly laid off employees in July 2016 and again in January 2018.
The company was then reportedly named in a lawsuit in May 2018, along with dozens of other drugmakers, over the marketing and sale of opioid pain medications.
Recovery of Investment Losses
The problem with biopharmaceutical stocks such as Pernix Therapeutics is that they typically involve a high degree of risk. The research and development process for pharma companies often involves costly and lengthy clinical testing trials that yield specific data. If the expected data or end points are not met, the stock can drop drastically.
Without a strong understanding of the company and its basic operations, investors may be looking at serious losses.
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for improperly recommending high-risk biopharma stocks, like Pernix Therapeutics to investors.
Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Firms that fail to do so, may be held responsible for any losses in a FINRA arbitration claim.
If you have concerns regarding investment losses in Pernix Therapeutics, please call the securities attorneys at The White Law Group for a free consultation at 888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.