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NEW YORK – January 11, 2025 (NEWMEDIAWIRE) – Kaplan Fox & Kilsheimer LLP announces the filing of a lawsuit against Revance Therapeutics (NASDAQ:), Inc. (Revance or Company) (NASDAQ: RVNC) for investors. purchased or acquired Revance securities between February 29, 2024 and December 6, 2024 (the Class Period).
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If you are a Revance investor and have lost money, you can CLICK HERE to contact us. You can also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
TIME TO ACT REMINDER: If you are a member of the proposed Class, you may move the court by March 4, 2025 to act as the lead plaintiff in the proposed class. If you have a loss we encourage you to contact us to learn more about the lead plaintiff process.
Revance is a biotechnology company and distributes 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 will initiate an offer to acquire all remaining shares of Revances common stock at $6.66 per share (The Tender Offer).
Then, on September 23, 2024, Revance disclosed that it had received a notice to correct the violation, including the violation of the maximum buffer stock and the necessary efforts to promote and sell Teoxane products, under Companys exclusive distribution agreement with Teoxane SA. Due to the dispute with Teoxane, the Company has advised that the Crowns Tender Offer is delayed until at least 4 October 2024.
In this news, the price of Revance stock decreased by $ 445 per share, or 7.66%, to close at $ 5.365 per share on September 23, 2024.
Then, on December 9, 2024, the Company disclosed that Crown and Revance had amended their merger agreement, and that Crown would begin an offer on December 12, 2024 to acquire all outstanding shares of Revance common stock for $3.10 in total, more than 50% lower than the original purchase price.
On this news, Revance stock price decreased by $.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 (i) Revance was in violation of the Agreement; Distribution; (ii) the foregoing has exposed the Company to increased risk of litigation, as well as financial and reputational damage; and (iii) all of the above have increased the risk of the Tender being delayed and/or modified.
WHY JOIN 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 compensation claims, Kaplan Fox provides the professional experience and track record clients seek. By litigating cases at the federal and state levels, Kaplan Fox has successfully shaped the law by winning many landmark decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you can visit our website at www.kaplanfox.com.
This press release may be considered Attorney Disclosure in other jurisdictions under applicable law and ethics.
If you have any questions about this Notice, your rights, or your interests, please contact:
LEARN:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
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