July 1, 2016 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of Revance Therapeutics Inc (NASDAQ:RVNC) was announced over potential breaches of fiduciary duties by certain officers and directors at Revance Therapeutics Inc.

The investigation by a law firm concerns whether certain Revance Therapeutics Inc (NASDAQ:RVNC officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

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).

In June 2015 a lawsuit was filed against Revance Therapeutics Inc over alleged securities laws violations. The plaintiff claimed 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 RT0001its lead product under development for the treatment of wrinkles around the eyesin 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.

On June 13, 2016 Revance Therapeutics Inc reported results from its REALISE 1 Phase 3 trial of DaxibotulinumtoxinA Topical Gel (RT001) to treat patients with moderate to severe lateral canthal lines, or crow's feet.

Shares of Revance Therapeutics Inc (NASDAQ:RVNC) declined from $20.95 per share on June 7, 2016 to as low as $12.93 per share on June 14, 2016.