WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Revance Therapeutics, Inc. (NASDAQ: RVNC) resulting from allegations that Revance may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Revance securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.
WHAT IS THIS ABOUT: On October 12, 2021, the U.S. Food and Drug Administration (FDA) posted Form 483 to its website citing issues found during the inspection of a Revance facility in July 2021. The FDA noted a working cell bank as a cause of rejected GMP lots of a product, discrepancies between the manufacturing process compared to that proposed for licensure, and said the Company's quality unit "lacks the responsibility and authority for the control, review, and approval of outsourced activities…".
On this news, Revance share prices dropped $6.85, or over 25%, to close at $20.45 on October 12, 2021.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.