Pacira(PCRX) Prnewswire·2025-01-15 01:03Class Action Lawsuit Against Pacira BioSciences - A class action lawsuit has been filed on behalf of individuals and entities that purchased or acquired Pacira BioSciences securities between August 2, 2023, and August 8, 2024 [1] - Pacira BioSciences is a pharmaceutical company focused on non-opioid pain management and regenerative health solutions [1] Allegations of Misrepresentation - The lawsuit alleges that Pacira BioSciences failed to disclose the lack of sufficient patent protection for its key product, Exparel [2] - Exparel, a bupivacaine liposome injectable suspension, accounts for approximately 80% of Pacira's revenue [3] - The company allegedly created a false impression that it had strong patent protections for Exparel, despite knowing that the '495 patent was not as protective as claimed [2] - On June 6, 2023, a New Jersey District Court ruled against Pacira in a patent infringement case against eVenus Pharmaceuticals related to Exparel [2] Impact on Stock Price - When Pacira announced the loss of the second lawsuit against eVenus on August 9, 2024, its stock price dropped from 11.70 per share, a decline of over 47% in a single day [3] Legal Proceedings and Shareholder Participation - Shareholders who wish to serve as lead plaintiff in the class action must submit their application to the court by March 14, 2025 [4] - Shareholders can choose to remain absent class members and still be eligible for recovery without participating in the case [4] - Robbins LLP, the law firm handling the case, operates on a contingency fee basis, meaning shareholders pay no fees or expenses [5]