UPDATE
On August 2, 2024, we filed a class action lawsuit in the United States District Court for the Eastern District of Virginia, captioned Herbst Capital Management v. Indivior PLC, et al., Case No. 24-cv-00554 (E.D. Va.), on behalf of a class of individuals and entities that purchased or otherwise acquired Indivior securities between February 22, 2024 and July 8, 2024, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ alleged violations of the federal securities laws.
The class action alleges, among other things, that Indivior management (i) overstated their ability to forecast the negative impact of certain legislation on the financial prospects of Indivior products, which forecasting ability was far less capable and effective than management had led investors and analysts to believe; and (ii) overstated the financial prospects of SUBLOCADE, PERSERIS and OPVEE, and thus overstated the Company’s anticipated revenue and other financial metrics.
There is a deadline of October 1, 2024, for Indivior investors to file an application to serve as lead plaintiff in the pending class action.
If you wish to learn more about this class action, or if you have any questions concerning your legal rights with respect to these matters, please complete and submit the form below to schedule a consultation at no charge.
ORIGINAL ANNOUNCEMENT
We are investigating whether Indivior PLC (Nasdaq: INDV) (“Indivior”) has violated the federal securities laws after the company announced, among other developments, lower than expected SUBLOCADE net revenue in Q2 based on continued adverse market dynamics impacting near-term SUBLOCADE net revenue growth.
Upon this surprise news, Indivior shares have so far fallen over 35% in trading on July 9, 2024.
If you are an Indivior shareholder and have suffered losses, you may contact us to discuss your legal rights and options at no charge by completing and submitting the form below.
Why is there an investigation?
On July 9, 2024, Indivior announced a conference call on short notice for 8:00 A.M. Eastern time. The purpose of the call was to, among other things, announce lower than expected SUBLOCADE net revenue in Q2 based on continued adverse market dynamics impacting near-term SUBLOCADE net revenue growth, including ongoing Medicaid disenrollments, lower-than-expected channel inventory levels of SUBLOCADE, and longer-than-expected activation times with new criminal justice system accounts.
During the question-and-answer session on the call, an analyst expressed surprise at the announcement, noting that management was very aggressive at the start of the year on the outlook for SUBLOCADE despite the fact that there were dynamics in the market that resulted in a changing environment.
Upon this surprise news, Indivior shares have so far fallen over 35% in trading on July 9, 2024.