1. Pacira faces a class action lawsuit related to alleged securities fraud. 2. The lawsuit period spans August 2, 2023, to August 8, 2024. 3. Pacira's key '495 patent for Exparel was ruled invalid, impacting revenues. 4. Stock dropped over 47% in a single day after the patent ruling. 5. Shareholders can seek compensation without upfront costs.
The loss of a pivotal patent likely undermines future revenue, impacting stock price.
The class action and patent invalidation significantly threaten PCRX’s market position.
Immediate effects on stock have been observed but longer-term impacts depend on future patents.
Levi & Korsinsky, LLP notifies investors in Pacira BioSciences, Inc. ("Pacira" or the "Company") (NASDAQ: PCRX) of a class action securities lawsuit.
The lawsuit seeks to recover losses on behalf of Pacira investors who were adversely affected by alleged securities fraud between August 2, 2023 and August 8, 2024. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/pacira-biosciences-inc-lawsuit-submission-form?prid=135195&wire=4
PCRX investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
According to the complaint, on August 9, 2024, Pacira issued a press release announcing the results of its lawsuit against eVenus for patent infringement. Pacira disclosed that the court "found that the company's U.S. Patent No. 11,033,495 (the '495 patent) is not valid," and, thus, eVenus is not infringing on anything. Pacira's '495 patent is for Exparel, which is the main source of growth for the Company, encapsulating roughly 80% of its revenue. Analysts have noted that the invalidity of the '495 patent calls into question the validity of the Company's other patents, potentially resulting in more generic entrants into the market and increased litigation expenses moving forward. Following this news, Pacira's common stock declined dramatically. From a closing market price of $22.36 per share on August 8, 2024, Pacira's stock price fell to a low of $11.70 per share on August 9, 2024, a decline of over 47% in a single day.
If you suffered a loss in Pacira during the relevant time frame, you have until March 14, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP