NEW YORK, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Middle District of Tennessee on behalf of all persons or entities who purchased or otherwise acquired Revance Therapeutics, Inc. (“Revance Therapeutics” or the “Company”) (NASDAQ: RVNC) securities between February 29, 2024 and December 6, 2024, inclusive (the “Class Period”).
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company was in material breach of the distribution agreement; (ii) the foregoing subjected the Company to an increased risk of litigation, as well as monetary and reputational harm; and (iii) all the foregoing increased the risk that the tender offer would be delayed and/or amended.
The Complaint further alleges that on September 23, 2024, the Company disclosed that it “received a notice to remedy alleged material breaches, including breaches of the maximum levels of buffer stock and required efforts to promote and sell Teoxane products, under the Company’s exclusive distribution agreement with Teoxane SA.” Due to the dispute with Teoxane, the Company further disclosed that Crown’s tender offer had been delayed until at least October 4, 2024. On this news, the price of the Company stock fell nearly 8%.
Investors who purchased or otherwise acquired shares of Revance Therapeutics should contact the Firm prior to the March 4, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
