Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Epocrates, Inc. to Inquire About the
March 12 2013 - 12:57PM
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Northern District of California on behalf of: (1)
purchasers of the common stock of Epocrates, Inc. ("Epocrates" or
the "Company") (Nasdaq:EPOC) in and/or following the Company's
initial public offering on or about February 2, 2011, inclusive
(the "IPO"); and (2) purchasers of Epocrates common stock during
the period between February 2, 2011 and August 9, 2011, inclusive
(the "Class Period").
If you have suffered a net loss from investment in Epocrates,
Inc. common stock either during the IPO, or purchased on or after
February 2, 2011, and held through August 9, 2011, you may obtain
additional information about this lawsuit and your ability to
become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410/415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and class action cases of over 60 years.
No class has yet been certified in the above
action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff. If you
wish to choose counsel to represent you and the Class, you must
apply to be appointed lead plaintiff no later than May 7, 2013 and
be selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether
to accept a settlement and how much of a settlement to accept for
the Class in the action. The lead plaintiff will be selected
from among applicants claiming the largest loss from investment in
the Company during the Class Period.
The complaint accuses the defendants of violations of the
Securities Act of 1933 and of violations of the Securities Exchange
Act of 1934 by virtue of the defendants' false and/or misleading
statements and/or failure to disclose: (1) that Epocrates'
pharmaceutical clients were awaiting guidance concerning the use of
advertising on the internet and through social media from the
United States Food and Drug Administration ("FDA"); (2) that the
Company's pharmaceutical clients were increasingly delaying their
marketing activities as they awaited guidance from the FDA; (3)
that the FDA's delays in issuing guidance relating to the internet
and social media was causing expanding regulatory queues for
Epocrates; and (4) that the expanding regulatory queues were
negatively impacting the Company's sales and revenue growth.
According to the Complaint, following the Company's August 9, 2011
disclosure that it was lowering its net sales guidance for the 2011
fiscal year because its revenue growth was being negatively
impacted by expanding regulatory queues, causing delays in the
launch of DocAlert messages and the lengthening of the time between
contract signing and revenue recognition, the value of Epocrates
shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven
without financial obligation or cost to you, or you may retain
other counsel of your choice. You need take no action at this
time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
Stevenson, Maryland
410/415-6616
hoffman@browerpiven.com
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