LOS ANGELES, Nov. 26, 2021 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Revance Therapeutics, Inc. ("Revance" or "the Company") (NASDAQ: RVNC) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Revance is the subject of an FDA Form 483 posted on October 12, 2021. The form details problems with the Company's manufacturing facility discovered during a July 2021 inspection. According to the FDA, a working cell bank is noted as a cause of rejected GMP lots. The FDA also found discrepancies between the Company's proposal for licensure and the manufacturing process in the facility. The agency notes that the Company's quality unit "lacks the responsibility and authority for the control, review, and approval of outsourced activities…." Based on this news, shares of Revance fell by 25% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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