Lawsuit Alert: Investors who lost money with shares of Revance Therapeutics, Inc. (NASDAQ: RVNC) should contact the Shareholders Foundation

An investor, who purchased shares of Revance Therapeutics, Inc. (NASDAQ: RVNC), filed a lawsuit over alleged violations of Federal Securities Laws by Revance Therapeutics, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased a significant amount of shares of Revance Therapeutics, Inc. (NASDAQ: RVNC) between February 29, 2024 and December 6, 2024, and / or those who purchased anyNASDAQ: RVNC shares prior to February 2024 and continue to hold any of those shares have certain options and for certain investors are short and strict deadlines running. Deadline: March 4, 2025. NASDAQ: RVNC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Nashville, TN based Revance Therapeutics, Inc., a biotechnology company, engages in the development, manufacture, and commercialization of neuromodulators for various aesthetic and therapeutic indications in the United States and internationally.

In January 2020, Revance Therapeutics, Inc. entered into a distribution agreement (the "Distribution Agreement") with Teoxane SA ("Teoxane"), pursuant to which Teoxane granted Revance "the exclusive right to import, market, promote, sell and distribute Teoxane's line of Resilient Hyaluronic Acid® dermal fillers, which include: (i) the RHA® Collection of dermal fillers and (ii) the RHA® Pipeline Products in the U.S., U.S. territories and possessions, in exchange for 2,500,000 shares of [Revance] common stock" and certain other commitments by Revance. In addition, under the Distribution Agreement, Revance is required to meet certain minimum purchase obligations and certain minimum expenditure requirements and either party may terminate the Teoxane Agreement in the event of "a material breach by the other party, including certain specified breaches that include the right for Teoxane to terminate the Teoxane Agreement for [Revance's] failure to meet the minimum purchase requirements or commercialization expenditure during specified periods, or for [Revance's] breach of the exclusivity obligations" under the Distribution Agreement.

Revance Therapeutics, Inc. reported that its annual Total Revenue rose from $132.56 million in 2022 to $234.04 million in 2023, and that its Net Loss declined from $356.42 million in 2022 to $323.98 million in 2023.

In August 2024, Revance Therapeutics, Inc. and Crown Laboratories, Inc. ("Crown"), a privately held marketer and manufacturer of skincare products, jointly announced that they had entered into a merger agreement (the "Merger Agreement") pursuant to which the companies would seek to merge. Under the terms of the Merger Agreement, Crown would commence a tender offer (the "Tender Offer") to acquire all outstanding shares of Revance's common stock for $6.66 per share in cash, representing a total enterprise value of $924 million.
On September 23, 2024, Revance Therapeutics, Inc. disclosed in a filing with the U.S. Securities and Exchange Commission ("SEC") that it "received a notice to remedy alleged material breaches, including breaches of the maximum levels of buffer stock and required efforts to promote and sell Teoxane products, under the Company's exclusive distribution agreement with Teoxane SA". Due to the dispute with Teoxane, Revance advised that Crown's Tender Offer had been delayed until at least October 4, 2024.

Then, on December 9, 2024, Revance Therapeutics, Inc. disclosed in an SEC filing that Crown and Revance had amended their merger agreement, and that Crown would shortly commence a tender offer to acquire all outstanding shares of Revance's common stock for $3.10 per share in cash-a drop of over 50% in the purchase price.

Market analysts were quick to comment on the reduced Tender Offer purchase price. For example, on December 9, 2024, Reuters published an article entitled "Revance agrees to lower take-private offer by Crown Labs," which quoted an analyst from the investment banking firm Stifel as stating "[t]his significant devaluation is a reflection of multiple forced errors, starting with the failed launch strategy for Daxxify and ensuing reputational damage to Revance's relationships to the surprise merger announcement near all-time lows, then leading to accusations of breach of contract with Teoxane."

Shares of Revance Therapeutics, Inc. (NASDAQ: RVNC) declined from $6.65 per share on August 19, 2024, to as low as $3.01 per share on December 09, 2024.

The plaintiff claims that between February 29, 2024 and December 6, 2024, the Defendants made false and/or misleading statements and/or failed to disclose that Revance was in material breach of the Distribution Agreement, thst the foregoing subjected the Company to an increased risk of litigation, as well as monetary and reputational harm, that all the foregoing increased the risk that the Tender Offer would be delayed and/or amended, and that as a result, the Company's public statements were materially false and misleading at all relevant times

Those who purchased shares of Revance Therapeutics, Inc. (NASDAQ: RVNC) 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.

This release was published on openPR.