Viatris Sued for Securities Law Violations; Investors Should Contact Block & Leviton for More Information

Boston, Massachusetts--(Newsfile Corp. - May 18, 2023) - A class action lawsuit has been filed against Viatris, Inc. (NASDAQ: VTRS) for securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/vtrs.

What is this all about?

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 it had disclosed; (ii) Viatris was unable to effectively manage its base business erosion or create a stable revenue base; (iii) despite being one of the Company's only drivers of growth, Viatris was actively planning to divest its biosimilars business in order to secure sufficient cash to 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.

On February 28, 2022, Viatris announced that it had entered into an agreement to sell its biosimilar business to Biocon Biologics Limited, that it was seeking to divest additional business assets, and lowered its expected guidance for fiscal year 2022 citing competition around key core products and price deterioration in certain markets.

On this news, the price of Viatris common stock declined more than 24% in intraday trading on February 28, 2022.

Who is eligible?

Anyone who purchased Viatris, Inc. stock between March 1, 2021 and February 25, 2022, and has lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.

What should you do next?

The deadline to seek appointment as lead plaintiff is July 14, 2023. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.

Why should you contact Block & Leviton?

Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com

SOURCE: Block & Leviton LLP
www.blockleviton.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166596