Press release
Lawsuit filed for Investors who lost money in shares of Viatris Inc. (NASDAQ: VTRS)
A lawsuit was filed on behalf of investors in Viatris Inc. (NASDAQ: VTRS) shares over alleged securities laws violations.
Investors who purchased shares of Viatris Inc. (NASDAQ: VTRS) have certain options and for certain investors are short and strict deadlines running. Deadline: July 14, 2023. NASDAQ: VTRS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Canonsburg, PA based Viatris Inc. operates as a healthcare company worldwide. On February 28, 2022, before the market opened, Viatris Inc. revealed that it had decided to undertake a global reshaping of its business, announcing that it had entered into an agreement to sell its biosimilars business to Biocon Biologics Limited and was seeking to divest additional business assets and focus on developing products in three core therapeutic areas as part of its reshaping. The same day, Viatris Inc. announced disappointing guidance for fiscal year 2022, attributing the lower-than-expected numbers to competition around key core products and price deterioration in certain markets.
Shares of Viatris Inc. (NASDAQ: VTRS) declined to as low as $8.95 per share on May 24, 2023.
The plaintiff claims that between March 1, 2021 and February 25, 2022, Viatris made materially false and/or misleading statements and/or failed to disclose that the Company was experiencing significantly more competition in its United States complex generics business than disclosed, that the Company was not able to effectively manage its base business erosion or create a stable revenue base, that despite being on the Company's only growth drivers, Viatris was actively planning to divest its biosimilars business in order to secure enough cash to let it purportedly meet its phase one goals, that Viatris was deviating from the business model it touted throughout the Class Period and undertaking a significant global reshaping of its business which would undermine its ability to achieve stable revenue growth, and that the Company was anticipating less financial growth moving into 2022.
Those who purchased shares of Viatris Inc. (NASDAQ: VTRS) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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