Pacira Biosciences, Inc. Class Action Lawsuit - PCRX
Case Summary
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The Pacira class action lawsuit seeks to represent purchasers or acquirers of Pacira Biosciences, Inc. (NASDAQ: PCRX) securities between August 2, 2023 and August 8, 2024, inclusive (the “Class Period”). Captioned Alvarez v. Pacira Biosciences, Inc., Inc., No. 25-cv-00322 (D.N.J.), the Pacira class action lawsuit charges Pacira and certain of Pacira’s top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Pacira class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Pacira class action lawsuit must be filed with the court no later than March 14, 2025.
CASE ALLEGATIONS: Pacira engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. According to the complaint, on June 15, 2021, Pacira’s patent application concerning its Exparel product was granted, published, and given its Patent Number: 11,033,495 (the “‘495 patent”).
The Pacira class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants created the false impression that Pacira had sufficient patent protections on Exparel, and as such, the ability to expand the marketing, production, and sales of Exparel, which Pacira stated was critical to its future growth and revenue; (ii) Pacira knew that the ‘495 patent was not as protective as Pacira publicly touted because on June 6, 2023, the United States District Court for the District of New Jersey issued a ruling in eVenus Pharmaceutical Laboratories, Inc.’s favor regarding claims construction in another case filed by Pacira in a failed attempt to protect Exparel; and (iii) therefore, when the ‘495 patent was invalidated in another case Pacira filed against eVenus, investors and analysts alike were shocked by the concerning news that Exparel, which accounts for approximately 80% of Pacira’s revenue, did not have sufficient patent protection to prevent another company from producing a generic during the life of the patent.
The Pacira class action lawsuit further alleges that on August 9, 2024, Pacira announced that the United States District Court for the District of New Jersey found that the ‘495 patent is not valid. On this news, the price of Pacira stock fell more than 47%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Pacira securities during the Class Period to seek appointment as lead plaintiff in the Pacira class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Pacira class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Pacira class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Pacira class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.