Bernstein Liebhard LLP Announces That Approximately Five Weeks Remain to Make a Motion for Lead Plaintiff in a Class Against Indivior PLC – INVVY
NEW YORK, May 21, 2019 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announced today that approximately five weeks remain to file a motion for lead plaintiff in a class action pending in the United States District Court for the District of New Jersey on behalf of all persons or entities (the “Class”) who purchased securities of Indivior PLC (“Indivior” or the “Company”) (OTC: INVVY) during the period between March 10, 2015 through April 9, 2019 (the “Class Period”). The complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
If you wish to serve as lead plaintiff in the Indivior class action, you must move the court no later than June 24, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery does not require that you serve as lead plaintiff. If you take no action, you may remain an absent class member.
Indivior, together with its subsidiaries, develops, manufactures, and sells prescription drugs for the treatment of opioid dependence.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Indivior and its executives engaged in an illicit nationwide scheme to increase prescriptions of Suboxone Film; (2) Indivior illegally obtained billions of dollars in revenue from Suboxone Film prescriptions by deceiving health care providers and health care benefit programs; (3) as a result of the aforementioned misconduct, Indivior would face felony charges; and (4) due to the foregoing, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On April 9, 2019, the truth was revealed when the Department of Justice (“DOJ”) filed an indictment asserting criminal charges against Indivior in connection with the Company’s conduct in marking Suboxone Film. Specifically, that the Company had engaged in an illicit scheme to increase prescriptions of Suboxone Film in order to increase the Company’s profits. The DOJ indictment included a Notice of Forfeiture, stating that upon conviction of one or more of the felony counts, among other things, the Company would face a monetary judgment of not less than $3,000,000,000.
On this news, Indivior ADRs fell $4.48, or over 66%, on April 10, 2019.
If you purchased Indivior securities, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/indivior-invvy-class-action-lawsuit-fraud-stock-129/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or via email at MGuarnero@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer, and shareholder rights cases and recovered over $3.5 billion for its clients. The Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and been listed in The Legal 500 for ten consecutive years.
You can obtain a copy of the complaint from the clerk of the court for the United States District Court for the District of New Jersey.
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