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Revance Therapeutics Inc (NASDAQ: RVNC) Investor Securities Class Action Lawsuit 06/10/2015

  • If you purchased shares of Revance Therapeutics Inc (NASDAQ: RVNC), you might have certain options and should contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Company
Revance Therapeutics Inc
Security
NASDAQ: RVNC

Case Name
Revance Therapeutics Shareholder Class Action Lawsuit 06/10/2015
Type of Lawsuit
Shareholder Class Action
Settlement Notice
revance_therapeutics_inc_settlement_notice_1_2017.pdf
Settlement Proof
revance_therapeutics_inc_settlement_proof_1_2017.pdf
Filed Complaint
revance_therapeutics_inc_original_filing_edited_6_2015.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$6,400,000.00
Deadline to Participate in Settlement

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Summary

The settlement includes all persons and entities that purchased or otherwise acquired Revance Therapeutics Inc (NASDAQ: RVNC) common stock during June 19, 2014 and May 1, 2015, and pursuant and/or traceable to the Registration Statement and prospectus for the company's June 19, 2014 Public Offering.

August 1, 2017 - The court approved the settlement.

January 6, 2017 - The court preliminarily approved the settlement.

October 31, 2016 - Parties filed a stipulation of settlement.

June 10, 2015 - An investor in shares of Revance Therapeutics Inc (NASDAQ: RVNC) filed a lawsuit over alleged violations of Federal Securities Laws by Revance Therapeutics Inc regarding certain allegedly false and misleading statements made in connection with Revance Therapeutics Inc’s June 19, 2014 follow-on public stock offering.

According to the complaint the plaintiff alleges on behalf of purchasers of Revance Therapeutics Inc (NASDAQ: RVNC) common stock in its June 19, 2014 follow-on public stock offering, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that the Registration Statement issued in connection with the June 19, 2014 follow-on public stock offering allegedly failed to disclose, among other things, that Revance Therapeutics Inc had not commenced a Phase 3 clinical trial of RT0001—its lead product under development for the treatment of wrinkles around the eyes—in the first quarter of 2014, and that Revance Therapeutics Inc did not have the quality or quantity of RT001 on hand sufficient to complete and successful Phase 3 clinical trial.

Revance Therapeutics Inc went public in February 2014 and shares of Revance Therapeutics Inc (NASDAQ: RVNC) grew to as high as $37.76 per share in March 2014.

On June 19, 2014 Revance Therapeutics Inc (NASDAQ: RVNC) announced the pricing of its underwritten public offering of 4,000,000 shares of its common stock at a price to the public of $30.50 per share pursuant to a registration statement filed with the Securities and Exchange Commission (“SEC”).

Shares of Revance Therapeutics Inc (NASDAQ: RVNC) grew to $33.56 per share on June 27, 2014 but declined over the next months to as low as $15.45 per share in October 2014, respectively $15.51 per share in November 2014.

revance_therapeutics_inc_original_filing_edited_6_2015.pdf
Date Settled