Law Offices of Howard G. Smith reminds investors of the upcoming June 24, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Indivior PLC (Indivior or the Company) (OTC: INVVY) securities between March 10, 2015 and April 9, 2019, inclusive (the Class Period).
Investors suffering losses on their Indivior investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
On April 9, 2019, the U.S. Department of Justice (DOJ) announced that a federal grand jury had indicted Indivior for engaging in an illicit nationwide scheme to increase prescriptions of Suboxone Film, an opioid drug used in the treatment of opioid addiction. According to the indictment, Indivior deceived health care providers and health care benefit programs into believing that Suboxone Film was safer, less divertible, and less abusable than other opioid-addiction treatment drugs, acquiring billions of dollars in revenue in Suboxone Film prescriptions.
On this news, the Companys share price fell $4.48 per share, more than 66%, to close at $2.30 per share on April 10, 2019, on unusually heavy trading volume.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (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, 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.
If you purchased shares of Indivior during the Class Period you may move the Court no later than June 24, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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