Investor Alert: Pacira BioSciences Class Action Lawsuit
Introduction
The investment community is abuzz as Kahn Swick & Foti, LLC (KSF), a prominent law firm specializing in securities litigation, reminds investors about an ongoing class action lawsuit against Pacira BioSciences, Inc. (NASDAQ: PCRX). As per recent communications from KSF, investors who suffered losses exceeding $100,000 by purchasing Pacira's securities between August 2, 2023, and August 8, 2024, must take prompt action to protect their interests.
Class Action Overview
The lawsuit, which is currently lodged in the United States District Court for the District of New Jersey, centers on allegations that Pacira and several of its executives failed to disclose vital information affecting the company’s stock performance during the specified Class Period. The stakes are high as investors are urged to file lead plaintiff applications by March 14, 2025.
Allegations Against Pacira
The controversial allegations come to light particularly in the wake of a patent infringement lawsuit concerning Pacira's revenue-generating product, Exparel. Reports reveal that on August 9, 2024, Pacira disclosed that the U.S. District Court determined that their U.S. Patent No. 11,033,495 was not valid, resulting in significant implications for the company. The legal ruling indicated that the competitor eVenus was not infringing on the patent, effectively jeopardizing about 80% of Pacira’s revenue from Exparel, triggering a staggering 47% drop in stock price from $22.36 to a low of $11.70 within days of the announcement.
Why Investors Should Pay Attention
This development not only poses serious concerns for those invested but also highlights the potential for corporate mismanagement and misleading statements within publicly traded companies. KSF's communication urges affected investors to understand their legal rights and explore the possibility of recovering financial losses induced by these circumstances. Investors interested in taking up lead plaintiff roles must petition the court by the stipulated deadline, ensuring their voices are heard in this pivotal litigation.
Next Steps for Investors
Kahn Swick & Foti, LLC encourages Pacira investors facing losses to engage with their legal team without any obligation or cost. Their Managing Partner, Lewis Kahn, can be reached at 1-877-515-1850 or via email at [email protected], ensuring avenues for discussion are readily available.
Conclusion
As this case unfolds, investors are reminded to remain vigilant regarding their investments and legal rights. The ramifications of this lawsuit could reshape the landscape for current and potential stakeholders within Pacira BioSciences. With the March 14 deadline approaching, prompt action is critical, and stakeholders must position themselves to navigate this challenging situation.
About Kahn Swick & Foti, LLC
KSF is recognized as a premier law firm specializing in securities litigation, assisting a diverse clientele, including public investors and hedge funds, in seeking recoveries for losses stemming from corporate wrongdoing. With offices strategically located across the United States, KSF remains committed to advocating for investor rights.