|[March 13, 2013]
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Epocrates, Inc.
LOS ANGELES --(Business Wire)--
Glancy Binkow & Goldberg LLP announces that a class action lawsuit has
been filed in the United States District Court, Northern District of
California on behalf of all those who purchased common stock of
Epocrates, Inc. ("Epocrates" or the "Company") (NASDAQ:EPOC) between
February 2, 2011 and August 9, 2011, inclusive (the "Class Period").
The complaint alleges that, throughout the Class Period, defendants made
false and/or misleading statements and/or failed to disclose that: (1)
the Company's pharmaceutical clients were awaiting guidance from the FDA
relating to advertising on the Internet and through social media; (2)
these clients were increasingly delaying their marketing activities; (3)
the FDA's delay in issuing guidance was causing expanding regulatory
queues for Epocrates; (4) these queues were negatively impacting the
Company's sales and revenue growth; and (5), as a result, the
defendants' positive stateents about the Company's business, operations
and prospects lacked a reasonable basis and/or were materially false and
On August 9, 2011, the Company lowered its net sales guidance for 2011
from the range of $122-125 million to the range of $115-120 million
because its revenue growth was being negatively impacted by expanding
regulatory queues, causing delays in the launch of DocAlert® messages
and increasing the time between contract signing and revenue
recognition. On this news, shares of Epocrates declined $6.80 per share,
nearly 40%, to close on August 10, 2011, at $9.89 per share.
No class has yet been certified in this action. Until a class is
certified, you are not represented by counsel unless you retain one. If
you purchased Epocrates common stock during the Class Period, you have
certain rights, and have until May 7, 2013 to move for lead plaintiff
status. To be a member of the class you need not take any action at this
time, and you may retain counsel of your choice. If you wish to discuss
this action or have any questions concerning your rights or interests
regarding these matters, please contact Michael Goldberg, Esquire, of
Glancy Binkow & Goldberg LLP, by telephone at 310-201-9150, Toll Free at
888-773-9224, by e-mail to email@example.com,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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