Investors Rejoin the Fight: Class Action Suit Against Pacira BioSciences Expands Following Patent Issues

Investors Rejoin the Fight

Investors who have faced financial losses linked to Pacira BioSciences, Inc. (NASDAQ: PCRX) are now given a renewed opportunity to seek justice through a class action lawsuit initiated by Levi & Korsinsky, LLP. This legal action serves to recover losses stemming from purported securities fraud that occurred between August 2, 2023, and August 8, 2024.

The Backstory of Allegations

The essence of the lawsuit revolves around a troubling press release issued by Pacira on August 9, 2024. This release reported adverse developments in a patent infringement suit against eVenus, where the court invalidated Pacira's U.S. Patent No. 11,033,495, a crucial patent underlying Exparel, the primary driver of revenue for the company. With approximately 80% of Pacira's revenue connected to this product, the consequences of this ruling are substantial. Analysts have predictably raised alarms about the potential repercussions on the validity of other company patents, suggesting an impending influx of generic competitors and associated litigation costs.

Following this announcement, Pacira’s stock experienced a dramatic plunge; the shares stumbled from a closing price of $22.36 on August 8, 2024, to a staggering low of $11.70 within a day, marking a catastrophic drop of over 47%. This sudden downturn has sparked outrage and disappointment among shareholders who now find themselves grappling with financial instability.

What’s Next for Affected Investors?

For those who endured losses while holding Pacira shares during the relevant period, it is critical to act promptly. The deadline to apply for lead plaintiff status in this case is set for March 14, 2025. Interestingly, participation in the class does not necessitate being a lead plaintiff to qualify for potential recovery. This provision opens the door for more investors to join the push for restitution, ensuring that no one is left behind.

Additionally, investors can engage with Levi & Korsinsky, LLP directly for inquiries or further information. There are no upfront costs for class members, making it a risk-free opportunity for shareholders seeking compensation from alleged misconduct.

A Legacy of Legal Expertise

Levi & Korsinsky possesses a robust track record with over two decades of experience in complex securities litigation. Their team has effectively secured hundreds of millions of dollars for harmed shareholders across various high-stakes cases. Remarkably, the firm has consistently ranked among the top securities litigation firms in the United States as indicated by ISS Securities Class Action Services’ Top 50 Report for seven consecutive years.

The firm’s standout expertise and commitment to representing investors place it in a formidable position to advocate for the rights of those impacted by Pacira's recent legal disputes.

How to Get Involved

Affected shareholders wishing to take part in this class action suit have a clear path forward. Individuals can submit their information through the link provided or reach out to Joseph E. Levi, Esq., via the company’s provided contact details. This is not merely a chance to recover financial losses; it represents the collective power of investors aiming to hold corporations accountable for their actions.

As the legal proceedings unfold, investors will be closely monitoring the developments, hoping to recoup losses while raising awareness of corporate governance issues that may adversely affect their investments.