Overview

A class action lawsuit has been filed against Revance Therapeutics, Inc. (“Revance” or the “Company”) (NASDAQ: RVNC) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws.  The Revance class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Revance securities between February 29, 2024, and December 6, 2024, both dates inclusive (the “Class Period”).  Investors have until March 4, 2025, to seek appointment as lead plaintiff in the Revance class action lawsuit.

Revance is a biotechnology company that develops, manufactures, and commercializes neuromodulators for various aesthetic and therapeutic indications in the United States and internationally.  In January 2020, Revance entered into a distribution agreement (the “Distribution Agreement”) with Teoxane SA (“Teoxane”), pursuant to which Teoxane granted Revance “the exclusive right to import, market, promote, sell and distribute Teoxane’s line of Resilient Hyaluronic Acid dermal fillers, which include: (1) the RHA Collection of dermal fillers and (2) the RHA Pipeline Products in the U.S., U.S. territories and possessions, in exchange for 2,500,000 shares of Revance common stock,” and certain other commitments by Revance.

In addition, under the Distribution Agreement, Revance is required to meet certain minimum purchase obligations and certain minimum expenditure requirements, and either party may terminate the Teoxane Distribution Agreement in the event of a material breach by the other party, including certain specified breaches that include the right for Teoxane to terminate the Teoxane Distribution Agreement for Revance’s failure to meet the minimum purchase requirements or commercialization expenditure during specified periods, or for Revance’s breach of the exclusivity obligations under the Distribution Agreement.  In August 2024, Revance and Crown Laboratories, Inc. (“Crown”), a privately held marketer and manufacturer of skincare products, jointly announced that they had entered into a merger agreement (the “Merger Agreement”) pursuant to which the companies would seek to merge.  Under the terms of the Merger Agreement, Crown would commence a tender offer (the “Tender Offer”) to acquire all outstanding shares of Revance’s common stock for $6.66 per share in cash, representing a total enterprise value of $924 million.

The Revance class action lawsuit alleges that Defendants, throughout the Class Period, made materially false and misleading statements regarding the Company’s business, operations, and prospects.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Revance was in material breach of the Distribution Agreement; (2) the foregoing subjected the Company to an increased risk of litigation, as well as monetary and reputational harm; (3) all the foregoing increased the risk that the Tender Offer would be delayed and/or amended; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. 

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If you purchased or otherwise acquired Revance securities between February 29, 2024, and December 6, 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 Revance class action lawsuit is March 4, 2025.