FINAL DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of West Pharmaceuticals
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements
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As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing 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.
The truth about this fraud was revealed over a series of disclosures culminating on February 13, 2025, when West issued extremely weak 2025 revenue and earnings forecasts. West attributed the disappointing guidance in part to contract manufacturing headwinds, including the loss of two major continuing glucose monitoring customers that had begun transitioning to in-house manufacturing of next-generation devices after West 'made the decision to not participate going forward as our financial thresholds cannot be achieved.' West also revealed that its SmartDose wearable injector devices would be 'margin-dilutive' in 2025 and that it would be 'taking steps to improve [its SmartDose] economics, and all options are on the table.'
On this news, West's stock dropped $123.17 per share, a decline of 38 percent, to close at $199.11 on February 13, 2025.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding West's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the West Pharmaceutical Services class action, go to www.faruqilaw.com/WST or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
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