Viatris Faces Shareholder Class Action Lawsuit: Johnson Fistel Encourages Investors to Seek Compensation for Alleged Wrongdoings – VRTS
Johnson Fistel, LLP, a shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of Viatris Inc. (“Viatris”) (NASDAQ:VTRS) investors who acquired securities between March 1, 2021 and February 25, 2022, inclusive (the “Class Period”). If you are a shareholder who incurred losses during this period, you have until July 14, 2023, to move the court to become a lead plaintiff in this action.
The complaint alleges that Viatris made materially false and/or misleading statements and/or failed to disclose that: i) the Company was experiencing significantly more competition in its United States complex generics business than disclosed; (ii) the Company was not able to effectively manage its base business erosion or create a stable revenue base; (iii) 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; (iv) 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 (v) the Company was anticipating less financial growth moving into 2022.
A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
Johnson Fistel, LLP is a shareholder rights law firm representing individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information, visit their website http://www.johnsonfistel.com.
Johnson Fistel, LLP
Jim Baker, 619-814-4471