Pacira BioSciences Faces Class Action Lawsuit: Important Details for Shareholders

Important Update on Pacira BioSciences Class Action Lawsuit

Levi & Korsinsky, LLP, a reputable firm specializing in securities litigation, has made a significant announcement regarding Pacira BioSciences, Inc. (NASDAQ: PCRX), which is currently facing a class action lawsuit. Investors who have suffered losses due to alleged securities fraud between August 2, 2023, and August 8, 2024, are urged to take note of the developments surrounding this case.

Background of the Case

The class action lawsuit aims to recover losses for Pacira investors adversely affected during the specified period. The complaint centers on a press release issued by Pacira on August 9, 2024. In this announcement, the company revealed that it had lost a pivotal legal battle against eVenus concerning patent infringement. The court found Pacira's U.S. Patent No. 11,033,495—integral to the company's Exparel product—not to be valid, raising alarms about the future of its other patents.

Exparel is significant for Pacira, as it accounts for approximately 80% of the company’s revenue. Following the unfavorable ruling, Pacira's stock took a dramatic hit; it plummeted from a closing market price of $22.36 per share on August 8, 2024, to a low of $11.70 the next day—an astonishing drop of over 47% in just 24 hours._

Shareholder Actions and Deadlines

For those who have incurred losses in their investments during the relevant timeframe, there’s a critical deadline approaching. Interested shareholders have until March 14, 2025, to request the court to appoint them as lead plaintiffs in this case. Importantly, participating as a lead plaintiff is not a prerequisite to share in any potential recovery. It means investors can still seek compensation without being officially designated.

No Cost Participation

Levi & Korsinsky emphasizes that class members may be entitled to compensation without incurring out-of-pocket expenses or fees. This no-cost framework facilitates broader participation among affected shareholders, ensuring that financial barriers do not prevent them from seeking justice.

Why Levi & Korsinsky?

With over two decades of specialized experience, Levi & Korsinsky has successfully secured hundreds of millions of dollars for defrauded shareholders. The firm’s extensive knowledge in handling securities litigation and its dedicated team of over 70 professionals underscore its capability to effectively represent investors in complex legal battles. Notably, Levi & Korsinsky has been acknowledged for seven consecutive years in ISS Securities Class Action Services' Top 50 Report, establishing its credibility in the sector.

How to Get Involved

Investors looking for further information or assistance regarding the Pacira class action lawsuit can reach out directly to Joseph E. Levi, Esq. via email at [email protected] or by calling (212) 363-7500. Additionally, those interested in submitting a claim can navigate to Levi & Korsinsky’s website and follow the procedure outlined in their latest press release.

In summary, as the deadline approaches, affected Pacira shareholders are encouraged to act swiftly to explore their legal options and safeguard their interests amidst the ongoing litigation.