Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Pacira BioSciences, Inc. (NASDAQ: PCRX) securities.
If you suffered a loss on your Pacira investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Aug 02 2023 - Aug 08 2024
CASE DETAILS: 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.
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