A securities class action has been filed against Revance Therapeutics, Inc. (RVNC) on behalf of all persons or entities that purchased or otherwise acquired Revance Therapeutics, Inc. between February 29, 2024 through December 6, 2024. This case has been filed in the USDC – TN.
The Complaint alleges that throughout the Class Period, Defendants 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: (i) Revance 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; (iii) all the foregoing increased the risk that the Tender Offer would be delayed and/or amended; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
As a result, Revance’s stock price fell $0.79 per share, or 20.68%, to close at $3.03 per share on December 9, 2024.