NEW YORK, April 25, 2019 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Indivior PLC ("Indivior" or the "Company") (Other OTC:INVVY) of the June 24, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Indivior stock or options between March 10, 2015 and April 9, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/INVVY. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
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The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Indivior securities between March 10, 2015 and April 9, 2019 (the "Class Period"). The case, Van Dorp v. Indivior PLC et al, No. 19-cv-10792 was filed on April 23, 2019.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing 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 Department of Justice ("DOJ") filed an indictment asserting criminal charges against Indivior in connection with the Company's conduct in marketing Suboxone Film (the "Indictment"). The charges included one count of conspiracy to commit mail, wire, and health care fraud, one count of health care fraud, four counts of mail fraud, and twenty-two counts of wire fraud. The Indictment described the fraudulent marketing scheme in extensive detail, providing numerous examples of misconduct.
On this news, the Company's ADR price fell from $6.78 per share on April 9, 2019 to $2.30 per share on April 10, 2019—a $4.48 or 66.08% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Indivior's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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