Eagle Pharmaceuticals Allegedly Misled on Cancer Drug Revenue

Eagle Pharmaceuticals Inc., its ex-CEO, and current CFO allegedly misled investors about its revenues, failing to disclose overstatements as to its sales of its injectable cancer treatment Pemfexy, according to a shareholder class action complaint.

The drugmaker failed to disclose in three months of financial filings that expired inventory had impacted its sales to a wholesale customer, which caused the company to overstate its revenue, according to the complaint filed Monday in US District Court for the District of New Jersey. The complaint also alleged that the company didn’t have effective internal procedures or controls for the financial ...