NEW YORK, Jan. 14, 2025 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities who purchased or otherwise acquired Pacira BioSciences, Inc. (“Pacira” or the “Company”) (NASDAQ: PCRX) securities between August 2, 2023 and August 8, 2024, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors under the federal securities laws.
According to the Complaint, on August 9, 2024, Pacira announced that the New Jersey District Court invalidated its ‘495 patent, holding that eVenus did not infringe on the ‘495 patent on the basis on obviousness and anticipation. The Complaint alleges that this ruling came shortly after Pacira’s submission of additional evidence to the Court, which the Court stated would not have any impact on the basis for the decision. The Complaint further alleges that this ruling was secondary to the same court’s ruling impacting claims construction for both Pacira’s ‘495 and ‘336 patents in eVenus’s favor.
According to the Complaint, Pacira’s announcement that its ‘495 patent was invalidated surprised investors and analysts alike as they reacted immediately to the revelations. The Complaint alleges that the price of Pacira’s common stock declined dramatically. According to the Complaint, 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, thereby damaging investors.
Investors who purchased or otherwise acquired shares of Pacira should contact the Firm prior to the March 14, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
