#United States #New York #Class Action #Securities Fraud #Pacira BioSciences

Investors Urged to Join Class Action Against Pacira BioSciences

In a significant development for investors of Pacira BioSciences, Inc. (NASDAQ: PCRX), law firm Levi & Korsinsky, LLP has announced a class action lawsuit aimed at recovering losses faced by shareholders. The action specifically targets those who suffered financial setbacks due to alleged securities fraud between August 2, 2023, and August 8, 2024.

Class Action Definition

The lawsuit has emerged as a crucial opportunity for affected investors. It is open to those who held shares during the stated period, particularly following the announcement of adverse legal outcomes regarding Pacira's patent, which is critical to its operations and revenue.

On August 9, 2024, Pacira made headlines by revealing a court ruling that invalidated its key patent for Exparel, which contributes to an estimated 80% of the company's revenue. This ruling not only questioned the stability of Pacira's existing patents but also suggested potentially increased competition from generic manufacturers as the patent's invalidity may pave the way for market entry by similar products. Consequently, the company’s stock plummeted, showcasing a staggering drop of over 47% in just one day—from $22.36 per share to a low of $11.70 following the news.

What Should Investors Do?

Investors who have experienced losses during the relevant time frame are encouraged to act swiftly. They have until March 14, 2025, to seek court appointment as lead plaintiffs. Importantly, participating in the class action and obtaining potential recovery does not require that individuals take on the role of lead plaintiff.

Levi & Korsinsky assures investors that participation carries no financial obligations or out-of-pocket costs. If classified as a class member, investors may still secure compensation without incurring fees.

The Reputation of Levi & Korsinsky

Levi & Korsinsky has developed a strong reputation over the past two decades, having secured hundreds of millions in recoveries for shareholders. The firm has been consistently recognized in ISS Securities Class Action Services' Top 50 Report for its prowess in navigating high-stakes securities litigation. With an experienced team of over 70 professionals, the firm provides extensive support for clients involved in complex cases.

If you believe you were affected by these developments with Pacira BioSciences, do not hesitate to reach out. For further inquiries, contact Joseph E. Levi, Esq. at [email protected] or call (212) 363-7500. Details about the lawsuit and how to participate can also be found through the firm's dedicated website.

In sum, Pacira BioSciences’ recent challenges in the court may provide a platform for collectible restitution for distressed investors. This class action lawsuit represents an opportunity for shareholders to join forces against perceived corporate mismanagement and seek accountability.