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NEW YORK – January 11, 2025 (NEWMEDIAWIRE) – Kaplan Fox & Kilsheimer LLP announced that a class action lawsuit has been filed against Revance Therapeutics (NASDAQ: ), Inc. (Revance or the Company) (NASDAQ: RVNC) for investors who purchased or acquired Revance securities between February 29, 2024 and December 6, 2024 (the Class Period).
CLICK HERE TO JOIN THE CASE
If you are a Revance investor and have suffered losses, you can CLICK HERE to contact us. You can also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than March 4, 2025 to serve as lead plaintiff for the alleged class. If you have suffered losses we encourage you to contact us to learn more about the lead complainant process.
Revance is a biotechnology company and distributor of certain dermal filler products pursuant to an exclusive distribution agreement with Teoxane SA.
On August 12, 2024, Revance issued a press release announcing that the Company entered into a merger agreement with Crown Laboratories (Crown). Under the terms of the agreement, the press release indicated that Crown will initiate a tender offer to acquire all outstanding shares of Revances common stock at $6.66 per share (the Tender Offer).
Subsequently, on September 23, 2024, Revance disclosed that it had received a notice to remedy the alleged material violations, including violations of the maximum buffer stock level and necessary efforts to develop and sell the Teoxane product, under the Company’s exclusive distribution agreement with Teoxane SA. Due to the Teoxane dispute, the Company has advised that the Crowns Tender Offer has been delayed until October 4, 2024.
On this news, Revance stock price fell $.445 per share, or 7.66%, to close at $5.365 per share on September 23, 2024.
Then, on December 9, 2024, the Company disclosed that Crown and Revance amended their merger agreement, and that Crown will initiate a tender offer on December 12, 2024 to acquire all outstanding shares of Revance common stock in $3.10 per share, more than 50% less than the original purchase price.
On this news, Revance stock price fell $.79 per share, or 20.68%, to close at $3.03 per share on December 9, 2024.
The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that (i) Revance was in material breach in the Distribution Agreement; (ii) the foregoing subjects the Company to an increased risk of litigation, as well as monetary and reputational damage; and (iii) all of the foregoing increases the risk that the Tender Offer will be delayed and/or modified.
WHY CONTACT KAPLAN FOX – Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. By prosecuting cases at the federal and state levels, Kaplan Fox has successfully shaped the law by winning many important decisions for our clients. For more information about Kaplan Fox & Kilsheimer LLP, you can visit our website at www.kaplanfox.com.
This press release may be considered Attorney Advertising in some jurisdictions under applicable law and ethical rules.
If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
See the original release at www.newmediawire.com
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