"There are a thousand-plus pages that are available of Mr. Cosby in his own words, and what we're seeing so far are headlines that are grabbing one excerpt or two and misinterpreting them," Monique Pressley told the morning show.
"The deposition said that there was use of Quaaludes, which was done often in the '70s," she said.
"It was considered a party drug called 'disco biscuits' and it was something that was done frequently, not just by Mr. Cosby but other entertainers," Pressley said.
She also addressed the allegations of the nearly 50 women who say Cosby drugged and sexually assaulted them.
"I'm not making conclusions – and you know that I can't – about whether someone is lying or not," she says.
"What I am saying is that Mr. Cosby has denied the accusations that have been lodged thus far," she says. "The sheer volume or number of people who are saying a particular thing does not make it true."
Last December, Pressley made that same point about the "sheer volume of accusers" when she spoke on a panel about the Cosby scandal.
"You'll have some people who will come forward and join the bandwagon," she says. "If you know the police department messed up in a certain park on a certain day, you'll have 30 people who'll come forward to cash in who weren't even there, who were at lunch across the street, who were looking from the window."
So "just because people come forward and say, 'Thirty years ago he [Bill Cosby] put something in my cup,' " doesn't mean he did it, she said.
On Tuesday, Cosby's attorneys filed a motion Tuesday asking for sanctions against Dolores Troiani, who represents former Temple employee Andrea Constand, with whom Cosby settled the 2005 lawsuit.
On July 8, Troiani filed a motion asking First U.S. District Court Judge Eduardo Robreno to allow the release of Cosby's deposition and release both Troiani and Constand from the confidentiality agreement that came with the settlement of Constand's 2006 lawsuit.
Troiani and Pressley did not respond to requests for comment.
The Cosby scandal, dormant for nearly a decade, exploded into the public domain again last fall after comedian Hannibal Buress joked about the accusations in a Philadelphia comedy club appearance, and a video of the joke got posted online.
Buress, who has rarely commented on the scandal since, now tells GQ he had no way of knowing how everything would play out.
"You can't predict s--- like that," he tells the magazine.
Meanwhile, Simon & Schuster confirmed on Wednesday that it has no plans to revise or issue future editions of the 2014 bio Cosby: His Life and Times, written by Mark Whitaker, which has come under fire for not exploring the scandal.
Although the publisher is not planning to pull the biography entirely, it is not scheduling a paperback edition of the book, vice president and executive director of publicity Cary Goldstein told PEOPLE.
He adds that, "in light of recent events," the publisher and the author have decided to remove any celebrity endorsements of the book that were received prior to its publication last fall.
A rep for both David Letterman and Jerry Seinfeld told PEOPLE they asked to have their blurbs removed.
Simon & Schuster told the AP that it also pulled blurbs from Mary Tyler Moore and Billy Crystal.