NEW ORLEANS, Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until February 8, 2022 to file lead plaintiff applications in a securities class action lawsuit against Revance Therapeutics, Inc. (NasdaqGM: RVNC), if they purchased the Company’s shares between November 25, 2019 and October 11, 2021, inclusive (the “Class Period”).
This action is pending in the United States District Court for the Northern District of California.
About the Lawsuit
Revance and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. On October 12, 2021, the Company disclosed that on July 2, 2021, the FDA had notified it of problems observed during its inspection of the Company’s Northern California DAXI manufacturing facility, including that “[t]he current manufacturing process is not the process proposed for licensure” and that the “Quality Unit lacks the responsibility and authority for control, review, and approval for outsourced activities[.]”
On this news, shares of Revance fell $6.85 per share, or 25%, to close at $20.45 per share on October 12, 2021.
The case is Aramic LLC v. Revance Therapeutics, Inc., No. 21-cv-09585.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
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