NEW YORK – January 11, 2025 (NEWMEDIAWIRE) – Kaplan Fox & Kilsheimer LLP announces the filing of a class action lawsuit against Revance Therapeutics (NASDAQ:), Inc. (Revance or the Company) (NASDAQ: RVNC) on behalf of investors that purchased or acquired Revance securities between February 29, 2024 and December 6, 2024 (the Class Period).
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If you are an investor in Revance and have suffered losses, you can click here to contact us. You can also contact Kaplan Fox by emailing pmayer@kaplanfox.com 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 purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
Revance is a biotechnology company and distributor of certain dermal filler products under an exclusive distribution agreement with Teoxane SA.
On August 12, 2024, Revance issued a press release announcing that the Company had entered into a merger agreement with Crown Laboratories (Crown). Under the terms of the agreement, the press release indicated that Crown would initiate a tender offer to acquire all outstanding shares of Revances common stock for $6.66 per share (the Tender Offer).
Subsequently, on September 23, 2024, Revance disclosed that it had received notice to address alleged material violations, including violations of maximum buffer stock levels and efforts required to promote and sell Teoxane products, under the Company's exclusive distribution agreement with Teoxane SA. Due to the dispute with Teoxane, the company has advised that the Crowns tender offer will be postponed until at least October 4, 2024.
On this news, Revance's stock price fell $0.445 per share, or 7.66%, to close at $5.365 per share on September 23, 2024.
Subsequently, on December 9, 2024, the Company disclosed that Crown and Revance had amended their merger agreement, and that Crown would initiate a tender offer on December 12, 2024 to acquire all of the outstanding shares of Revance common stock for $3.10 per share, more than 50% less of the original purchase price.
On this news, Revance's stock price fell $0.79 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 (1) Revance was in material breach of the Distribution Agreement; (2) the foregoing exposes the Company to an increased risk of litigation, as well as financial and reputational damage; (3) 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 focused on complex litigation with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. With more than 50 years of experience in securities matters, Kaplan Fox offers the professional expertise and track record that clients demand. Prosecuting cases at the federal and state levels, Kaplan Fox has successfully shaped the law by winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you can visit our website at www.kaplanfox.com.
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If you have any questions about this Notice or your rights or interests, please contact:
communication:
Pamela A. Mayer
Kaplan Fox & Kilsheimer LLP
800 Third Avenue, 38th floor
New York, NY 10022
(646) 315-9003
pmayer@kaplanfox.com
Lawrence D. King
Kaplan Fox & Kilsheimer LLP
1999 Harrison Street, Suite 1560
Oakland, CA 94612
(415) 772-4704
lking@kaplanfox.com
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