| COMPANY |
Pacira Biosciences, Inc. |
| COURT |
United States District Court for the District of New Jersey |
| CASE NUMBER |
2:25-cv-00322 |
| JUDGE |
The Hon. Stanley R. Chesler |
| CLASS PERIOD |
August 2, 2023, through August 8, 2024 |
| SECURITY TYPE |
Securities |
LEAD PLAINTIFF DEADLINE IS MARCH 14, 2025.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Pacira Biosciences, Inc. (“Pacira”) (NASDAQ: PCRX) securities between August 2, 2023, and August 8, 2024, inclusive (the “Class Period”).
Pacira, a Delaware corporation with its principal executive offices in Tampa, Florida, is a pharmaceutical company developing and providing non-opioid pain management solutions. The company’s most significant non-opioid treatment is Exparel, which is used to manage postsurgical pain. Exparel accounts for approximately 80% of Pacira’s revenue.
On January 22, 2021, Pacira filed a patent application related to Exparel. On June 15, 2021, the application was granted, published, and given its Patent Number: 11,033,495 (the “‘495 Patent”). The ‘495 Patent is currently active, with an anticipated expiration of January 22, 2041.
On November 8, 2021, Pacira announced that it filed a lawsuit in the United States District Court for the District of New Jersey against eVenus Pharmaceutical Laboratories, Inc. (“eVenus”) for infringement of the ‘495 Patent. On February 10, 2022, Pacira filed a second lawsuit against eVenus which sought to stop eVenus from developing a generic version of Exparel at different doses. On June 6, 2023, the court ruled against Pacira in the second lawsuit, allowing eVenus to scale-up the existing manufacturing process.
The complaint alleges that, during the Class Period, Defendants made materially false and/or misleading statements as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) Pacira had insufficient patent protections on Exparel, and as such, would be unable to expand the marketing, production, and sales of Exparel; (2) Pacira knew that the ‘495 Patent was not as protective as Defendants publicly touted because on June 6, 2023, the New Jersey District Court issued a ruling in eVenus’s favor regarding claims construction in a case filed by Pacira to protect Exparel, which allowed eVenus to scale-up its existing manufacturing process; and (3) as a result, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.