Pacira(US:PCRX) Prnewswireยท2025-02-25 10:45Core Viewpoint - Pacira BioSciences, Inc. is facing a class action securities lawsuit due to alleged securities fraud that affected investors between August 2, 2023, and August 8, 2024 [1] Group 1: Lawsuit Details - The lawsuit was initiated following a press release on August 9, 2024, where Pacira announced the invalidation of its U.S. Patent No. 11,033,495 related to its main product Exparel, which constitutes approximately 80% of the company's revenue [2] - The invalidation of the '495 patent raises concerns about the validity of other patents held by Pacira, potentially leading to increased competition from generic products and higher litigation costs [2] - Following the announcement, Pacira's stock price plummeted from $22.36 per share on August 8, 2024, to a low of $11.70 per share on August 9, 2024, marking a decline of over 47% in just one day [2] Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until March 14, 2025, to request appointment as lead plaintiff in the lawsuit [3] - Participation in the lawsuit does not require investors to incur any out-of-pocket costs or fees [3] Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing significant settlements for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4]