Indivior PLC Class Action Lawsuit - INDV
Case Summary
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The Indivior class action lawsuit seeks to represent purchasers or acquirers of Indivior PLC (NASDAQ: INDV) securities between February 22, 2024 and July 8, 2024, inclusive (the “Class Period”). Captioned Herbst Capital Management, LLC v. Indivior PLC, No. 24-cv-00554 (E.D. Va.), the Indivior class action lawsuit charges Indivior and certain of Indivior’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Indivior class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Indivior class action lawsuit must be filed with the court no later than October 1, 2024.
CASE ALLEGATIONS: Indivior is a global pharmaceutical company that develops, manufactures, and markets drugs to treat opioid use disorders and serious mental illnesses.
The Indivior class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants grossly overstated their ability to forecast the negative impact of certain legislation on the financial prospects of Indivior products, which forecasting ability was far less capable and effective than defendants had led investors and analysts to believe; (ii) defendants overstated the financial prospects of Indivior’s products, SUBLOCADE, PERSERIS, and OPVEE, and thus overstated Indivior’s anticipated revenue and other financial metrics; (iii) defendants knew or recklessly disregarded that because of the negative impact of certain legislation on the financial prospects of Indivior’s products, Indivior was unlikely to meet its own previously issued and repeatedly reaffirmed fiscal year 2024 net revenue guidance, including its fiscal year 2024 net revenue guidance for SUBLOCADE, PERSERIS, and OPVEE; and (iv) defendants knew or recklessly disregarded that Indivior was at a significant risk of, and/or was likely to, cease all sales and marketing activities related to PERSERIS.
The Indivior class action lawsuit further alleges that on July 9, 2024, Indivior revealed that it was reducing its fiscal year 2024: (i) total net revenue guidance to $1.15-$1.215 billion from the previous range of $1.24-$1.33 billion; (ii) SUBLOCADE net revenue guidance to $765-$805 million from the previous range of $820-$880 million; and (iii) OPVEE net revenue guidance to $9-$14 million from the previous range of $15-$25 million. The complaint further alleges that Indivior also disclosed that it would immediately cease all sales and marketing activities related to PERSERIS. On this news, the price of Indivior stock fell nearly 34%, according to the Indivior class action lawsuit.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Indivior securities during the Class Period to seek appointment as lead plaintiff in the Indivior class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Indivior class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Indivior class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Indivior class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.