Case Summary
Pacira
NASDAQ: PCRX
Case Details
- Alvarez v. Pacira Biosciences, Inc. et al.
- Class Period:August 2, 2023 - August 8, 2024
- Date Filed:January 13, 2025
- Jurisdiction:U.S. District Court, District of New Jersey
- Docket Number: 2:25-cv-00322
- Lead Plaintiff Deadline: March 14, 2025
Seek Plaintiff 34
Overview
A class action lawsuit has been filed against Pacira Biosciences, Inc. (“Pacira” or the “Company”) (NASDAQ: PCRX) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws. The Pacira class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Pacira securities between August 2, 2023, to August 8, 2024, both dates inclusive (the “Class Period”). Investors have until March 14, 2025, to seek appointment as lead plaintiff in the Pacira class action lawsuit.
Pacira is an American pharmaceutical company committed to developing and providing non-opioid pain management and regenerative health solutions. The Company currently offers three commercial-stage non-opioid treatments, including Exparel, Zilretta, and Iovera.
Pacira describes Exparel as a treatment that utilizes the Company’s unique and proprietary multivesicular liposome delivery technology that encapsulates drugs without altering their molecular structure and releases them over a sustained period. In February 2018, the U.S. Food and Drug Administration published rigorous guidance for proving bioequivalence to multivesicular liposomal bupivacaine. Matching comparative characteristics must be conducted on at least three batches of an abbreviated new drug application product with at least one batch manufactured at commercial scale and include liposome composition, internal aqueous environment of the liposome, and in vitro drug release rates. Unlike traditional liposomes, multivesicular liposomes consist of a non-lamellar honeycomb structure.
The Pacira class action lawsuit alleges that Defendants provided investors with material information with regard to Pacira’s ‘495 patent validity and scope. In particular, the Company touted widespread protection of Exparel, despite the previous receipt of a negative outcome regarding claims construction in another lawsuit against eVenus involving the ‘495 patent, as well as Pacira’s ‘336 patent. Defendants’ statements included, among other things, confidence in the Company’s protections of Exparel, additional patent protections covering Exparel, and optimistic claims that the Company would be able to continue the expanded use of Exparel.
Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Pacira’s Exparel patent scope and protections; pertinently, Pacira concealed or otherwise minimized the significance of the New Jersey District Court’s holding regarding claims construction and Pacira’s attempt to submit new evidence, including exhibits and findings of fact to the Court, which the Court considered and rejected. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Pacira’s securities at artificially inflated prices.
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If you purchased or otherwise acquired Pacira securities between August 2, 2023 to August 8, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page.
You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected].
The deadline to apply to the Court to serve as lead plaintiff in the Pacira class action lawsuit is March 14, 2025.