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INVVY.US
id: 1305
Indivior (INDV) Financial and Legal Issues Case
E.D. Virginia
Court3:24-cv-00554
Case number22 Feb 2024
Class period Start08 Jul 2024
Class period End01 Oct 2024
Lead Plaintiff motion deadline- $INDV stockholders filed a claim against Indivior for overstating its ability to predict new laws' impact, revenue, and 2024 targets.
- After the financial results on July 9, 2024, $INDV dropped by 33.57%.
- Indivior investors can join this case to be notified about potential recovery.
Case Details:
Between February 22, 2024, and July 8, 2024, Indivior told investors it expected to generate higher revenue in 2024.
The company projected earnings of $1.24-$1.33B, mostly from selling its main product, SUBLOCADE, and new products like OPVEE and PERSERIS.
On April 25, 2024, Indivior told investors that challenges like fewer Medicaid patients and competition were temporary and wouldn’t affect revenue. However, they underestimated the impact of new laws on their products.
On July 9, 2024, Indivior cut its revenue forecast, admitting new laws had a bigger impact than expected. They also decided to stop selling PERSERIS due to increased competition.
On this news, $INDV dropped by 33.57% on the same day.
Based on these events, $INDV stockholders filed a claim against Indivior and its leaders, accusing them of the following:
- Indivior overstated its ability to predict the impact of new laws on its products.
- The company overestimated revenue for SUBLOCADE, PERSERIS, and OPVEE.
- It ignored risks from new legislation, making it unlikely to meet 2024 revenue targets and risking the end of PERSERIS sales.
Considering all the representations, investors suspect that Indivior overstated its ability to predict new laws' impact, revenue, and 2024 targets.
Case Status
Lead Plaintiff Submission
Alleged Offence
Mismanagement,
Price manipulation,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09 July 2024
Filing date
02 August 2024
Lead Plaintiff Deadline
01 October 2024
Judge
Henry E. Hudson