SAN FRANCISCO, June 12, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges Viatris Inc. (NASDAQ: VTRS) investors who suffered substantial losses to submit your losses now.
Class Period: Mar. 1, 2021 – Feb. 25, 2022
Lead Plaintiff Deadline: July 14, 2023
Visit: www.hbsslaw.com/investor-fraud/VTRS
Contact An Attorney Now: VTRS@hbsslaw.com
844-916-0895
Viatris Inc. (VTRS) Securities Fraud Class Action:
The complaint alleges Defendants misstated and failed to disclose that Viatris: (1) was experiencing significantly more competition in its United States complex generics business than represented; (2) was not able to effectively manage its base business erosion or create a stable revenue base; (3) was actively planning to divest its biosimilars business to secure enough cash to meet its goals, even though the business was a growth driver; (4) was deviating from the business model it touted and was undertaking a significant global reshaping of its business that would undermine its ability to achieve stable revenue growth; and (5) was anticipating less financial growth moving into 2022.
The truth emerged on Feb. 28, 2022, when Viatris announced (i) disappointing Q4 and FY 2021 earnings, (ii) that it decided to undertake yet another significant global reshaping of its business, (iii) that it agreed to sell its biosimilars business, (iv) that it was looking to sell additional assets, and (v) that the company had reduced its 2022 guidance due to increased competition and price deterioration.
On this news, Viatris’ stock price declined $3.53 per share of common stock, or approximately 24%.
“We’re focused on investors’ losses and proving Viatris misled investors about it being on track toward achieving stable revenue growth,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Viatris and have substantial losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Viatris should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email VTRS@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
