Small Business – The Brewton Standard

BENSALEM, Pa., July 12, 2023 /PRNewswire/ — Law Offices of Howard G. Smith announces that investors with substantial losses have the opportunity to lead the securities fraud class action lawsuit against Viatris Inc. (“Viatris” or the “Company”) (NASDAQ:VTRS).

Class Period: March 1, 2021February 25, 2022
Lead Plaintiff Deadline: July 14, 2023

Investors suffering losses on their Viatris investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].

On February 28, 2022, before the market opened, Viatris revealed that it had decided to undertake a global reshaping of its business, announcing that it had entered into an agreement to sell it 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, the Company 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.

On this news, Viatris’s stock price fell $3.53or 24.3%, to close at $11.01 per share on February 28, 2022thereby injuring investors.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) the Company was experiencing significantly more competition in its United States complex generics business than disclosed; (2) the Company was unable to effectively manage its base business erosion or create a stable revenue base; (3) despite being one of 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; (4) Viatris was deviating from the business model it touted through the Class Period and undertaking a significant global reshaping of its business which would undermine its ability to achieve stable revenue growth; (5) the Company was anticipating less financial growth moving into 2022; and (6) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquireof Law Offices of Howard G. Smith3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com

Cision View original content:https://www.prnewswire.com/news-releases/vtrs-investors-have-opportunity-to-lead-viatris-inc-securities-fraud-lawsuit-301875952.html

SOURCE Law Offices of Howard G. Smith

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