According to the Complaint, West Pharmaceutical Services, Inc. is a medical supplies company specializing in packaging components, containment solutions, and delivery systems for injectable drugs. This class action was filed against West and three individual Defendants.

The Complaint alleges that, throughout the Class Period, Defendants failed to disclose that: (a) despite claiming strong visibility into customer demand and attributing headwinds to temporary COVID-related product destocking, West was in fact experiencing significant and ongoing destocking across its high-margin High-Value Products portfolio; (b) West’s SmartDose device, which was purportedly positioned as a high-margin growth product, was highly dilutive to the Company’s profit margins due to operational inefficiencies; (c) these margin pressures created the risk of costly restructuring activities, including the Company’s exit from continuous glucose monitoring contracts with long-standing customers; and (d) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading or lacked a reasonable basis.