Pacira BioSciences Faces Class Action: Key Details for Investors

Understanding the Class Action Against Pacira BioSciences

Levi & Korsinsky, LLP has recently informed investors about a class action securities lawsuit concerning Pacira BioSciences, Inc. (NASDAQ: PCRX). This legal action is intended to recover losses experienced by shareholders who were negatively impacted by the alleged securities fraud occurring between specified dates.

Details of the Securities Fraud Allegations

The lawsuit is focused on the events that transpired from August 2, 2023, to August 8, 2024. During this period, the Company faced significant challenges that have drawn the attention of legal experts and investors alike. One of the most pressing issues arose when Pacira announced unfavorable outcomes from a court case involving their patent for Exparel, a drug that generates a substantial portion of their revenue.

The Impact of the Patent Invalidation

On August 9, Pacira disclosed that a court found their U.S. Patent No. 11,033,495 invalid. As this patent covers Exparel, the company's growth driver, the ruling raises serious concerns about the Company's business model and future performance. Analysts believe this decision opens the door for increased competition, as it may allow for more generic versions of Exparel to enter the market, which could drastically affect Pacira's revenue and stability.

Market Reaction to Recent Developments

In light of the invalidation of the patent, Pacira's stock has experienced a dramatic decline. Prior to the court’s ruling, shares were trading at about $22.36 on August 8, 2024. Following the announcement, the price plummeted to a low of $11.70 on August 9, representing a staggering drop of over 47% in just one day. This sharp decline has left many investors in distress, prompting the class action lawsuit.

Next Steps for Affected Investors

If you've been affected by these events and sustained losses, it's crucial to act swiftly. Shareholders have until March 14, 2025, to request the court to recognize them as lead plaintiffs. However, it is important to note that participation in any potential recovery does not mandate being the lead plaintiff.

Cost-Free Participation in the Class Action

Investors should take comfort in knowing that if they are eligible members of the class, they can seek compensation without incurring out-of-pocket expenses. It is vital to highlight that there are no costs or obligations to be part of this lawsuit.

Why Choose Levi & Korsinsky

Levi & Korsinsky has built a strong reputation over the last two decades by securing hundreds of millions of dollars for shareholders impacted by securities fraud. Their extensive experience in complicated securities litigation, combined with a dedicated team, has positioned them as a leader in this field. They've consistently ranked highly in industry reports, further solidifying their credibility among investors.

Company Contact Information

For those seeking more information about the class action or interested in representation, they can reach out to Levi & Korsinsky. Investors should not hesitate to get in touch with Joseph E. Levi, Esq., or Ed Korsinsky, Esq., who are both available to assist with inquiries.

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171

Frequently Asked Questions

1. What is the main issue in the class action against Pacira BioSciences?

The class action addresses alleged securities fraud that adversely affected investors during a specific period, particularly related to the invalidation of a key patent.

2. How much did Pacira's stock decline following the recent news?

Pacira's stock price fell from $22.36 to $11.70, marking a drop of over 47% in one day.

3. What should affected investors do?

Affected investors are encouraged to contact Levi & Korsinsky and consider requesting to be appointed as lead plaintiffs before the deadline of March 14, 2025.

4. Is there a cost to participate in the class action lawsuit?

No, participating as a class member carries no costs or obligations, and investors may be eligible for compensation without any fees.

5. How can I contact Levi & Korsinsky for more information?

Investors can reach out to Levi & Korsinsky by phone at (212) 363-7500 for any inquiries regarding the class action lawsuit.

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