#United States #San Diego #Class Action #Robbins LLP #Revance Therapeutics

Urgent Update for Revance Shareholders

In a recent announcement, Robbins LLP, a prominent shareholder rights law firm, has reminded individuals and entities who suffered substantial losses after investing in Revance Therapeutics, Inc. (NASDAQ: RVNC) to explore their legal options. This follows the filing of a class action lawsuit that claims Revance misled investors regarding its business prospects between February 29, 2024, and December 6, 2024.

Background on Revance

Revance Therapeutics is a biotechnology firm engaged primarily in developing and commercializing neuromodulators aimed at treating various aesthetic and therapeutic conditions. Despite its promising portfolio, recent allegations have raised serious concerns about the company's transparency and overall reliability.

Allegations of Misleading Information

The crux of the complaint involves the claim that Revance failed to disclose critical information during the class period. Specific allegations include:
1. Material Breach: Revance allegedly breached its Distribution Agreement with Teoxane SA, which cast significant doubt on its operational integrity.
2. Litigation Risks: These breaches reportedly escalated the company's exposure to legal action, raising concerns about potential monetary losses and harm to its reputation.
3. Tender Offer Complications: The company faced an increased risk of delays or amendments to a tender offer from Crown Laboratories, Inc., further impacting its stock valuation.

On September 23, 2024, Revance disclosed through an SEC filing that it had been notified to address material breaches concerning its distribution deal. Following this revelation, the company's stock price plummeted by 7.66%, closing at $5.365 per share.

The situation worsened on December 9, 2024, when it was announced that amendments had been made to the merger agreement with Crown Laboratories. This news led to a staggering 20.68% drop in stock price, as shares closed at $3.03.

How to Participate in the Class Action

Affected shareholders seeking to serve as lead plaintiffs must submit their applications to the court by March 4, 2025. A lead plaintiff plays a crucial role in representing the interests of other class members during litigation. Importantly, individuals can choose not to take action and still remain as class members eligible for a potential recovery.

Robbins LLP emphasizes that their representation is on a contingency fee basis, meaning shareholders have no upfront costs or legal fees unless they recover funds through the lawsuit. This cost-effective approach makes it accessible for investors wishing to pursue justice.

About Robbins LLP

Established in 2002, Robbins LLP has built a strong reputation as a leader in shareholder rights litigation. The firm constantly strives to aid investors in recovering losses while pushing for enhanced corporate governance practices. For shareholders looking for updates on their rights or the potential for class action settlements, the firm offers a subscription service for notifications and insights.

For more information or assistance, investors can contact Robbins LLP directly by filling out a form or calling 800-350-6003.

This case serves as a crucial reminder of the importance of corporate transparency and accountability—factors that investors should never overlook when evaluating their portfolios.