According to the Complaint, Pacira Biosciences, Inc. is a pharmaceutical company committed to developing and providing non-opioid pan management and regenerative health solutions. The Company currently offers three commercial-stage non-opioid treatments, including Exparel. This class action was filed against Pacira and three of its Officers.

The Complaint alleges that during the Class Period, Pacira disseminated materially false and misleading statements and/or concealed material adverse facts concerning the validity and scope of the Company's patents. On August 9, 2024, Pacira announced that the New Jersey District Court had invalidated its ‘495 patent. This announcement surprised investors and analysts alike as they reacted immediately to the revelations, and the price of Pacira’s common stock declined dramatically. Plaintiff seeks to recover damages that occurred as the result of Defendants' alleged violations of the federal securities laws.