July 13, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in QUESTCOR PHARMACEUTICALS, INC. (NASDAQ:QCOR) shares over potential securities laws violations by certain officers and directors at QUESTCOR PHARMACEUTICALS, INC. in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of QUESTCOR PHARMACEUTICALS, INC. (NASDAQ:QCOR) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements about QUESTCOR PHARMACEUTICALS business, its prospects and its operations were potentially materially false and misleading at the time they were made.

Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) reported that its annual Revenue rose from $88.32million in 2009 to $218.17 million in 2011 and its Net Income increased from $26.63million in 2009 to $79.59million in 2011.

Shares of Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) grew from $3.50 per share in November 2009 to as high as $57.64 per share on July 9, 2012. Questcor Pharmaceuticals, Inc. reportedly shipped 1,800 vials of its multiple sclerosis drug Acthar in June, bringing its quarterly total to 4,710. That reportedly represents a 15% sequential increase relative to the first quarter. Following up the optimistic figures, Jeffries increased its price target from $56 to $60, saying the 800 in shipments implies $111 million in sales, notably higher than the $103 million consensus that the market was reportedly looking for.

Then on July 10, 2012, Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) announced that it will report its second quarter results on July 24, 2012.

NASDAQ:QCOR shares fell from $57.64 per share on July 9, 2012 to as low as $41.709 per share on July 11, 2012.