DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of West Pharmaceutical Services
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In West To Contact Him Directly To Discuss Their Options
If you purchased or acquired securities in West between February 16, 2023, and February 12, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - June 16, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against West Pharmaceutical Services, Inc. ('West' or the 'Company') (NYSE: WST) and reminds investors of the July 7, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
[ This image cannot be displayed. Please visit the source: https://images.newsfilecorp.com/files/6455/255570_1fc638c6b4f57afa_001full.jpg ]
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
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).
Follow us for updates on LinkedIn, on X, or on Facebook.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255570
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
American Military News
2 hours ago
- American Military News
Gas prices at 4-year low under Trump admin
Following President Donald Trump's military strikes against Iran's nuclear facilities and his announcement of a ceasefire between Iran and Israel, gas prices have dropped to a four-year low. As of Friday, the national average price for a gallon of gasoline was $3.20, according to Fox Business. The outlet noted that oil prices remain at the same level they were at prior to a temporary spike in prices amid concerns that conflict between Iran and Israel could disrupt the supply of oil in the Middle East. According to CNBC, Patrick De Haan, the head of GasBuddy's petroleum analysis, recently suggested that Americans could see the lowest gas prices in years over the upcoming summer months. De Haan also indicated that the national average price of gas could drop under $3 per gallon by September. 'It's going to be the cheapest summer since 2021, when the economy was heavily influenced by Covid,' De Haan told the outlet. According to Fox Business, oil temporarily spiked to $78 per barrel following Trump's military strikes on Iran's nuclear facilities in June; however, the outlet noted that the temporary spike in oil prices quickly dropped just two days after the U.S. military strikes. READ MORE: Gas prices soar to eight-month high Addressing the temporary spike in oil prices, De Haan said, 'Obviously the Middle East situation is an exception, but now that this is, seemingly for now, in de-escalation, gas prices should resume their slow decline over the course of the summer.' De Haan explained that gas prices are close to the lowest level observed over the last two decades when prices are adjusted for inflation. De Haan added, 'Americans are actually spending far less of their income on energy than they have in quite some time.' According to Fox Business, Lipow Oil Associates President Andy Lipow explained oil prices are expected to remain at their current level due to an abundant supply of oil and increased production from OPEC+. Lipow suggested that gas prices could drop between three and five cents over the week ahead of the July 4 holiday weekend. Phil Flynn, an energy market analyst, told Fox News that the reduction of geopolitical concerns following the destruction of Iran's nuclear program has 'shown up in the gas prices.' The energy market analyst also highlighted the Trump administration's favorable energy regulations, saying, 'This is going to be a big win for consumers as inflation continues to come down.'
Business Wire
2 hours ago
- Business Wire
Cybin Announces Financing of up to US$500 Million Aggregate Principal Amount of Convertible Debentures
TORONTO--(BUSINESS WIRE)--Cybin Inc. (NYSE American: CYBN) (Cboe Canada: CYBN) (' Cybin ' or the ' Company '), a clinical-stage breakthrough neuropsychiatry company committed to revolutionizing mental healthcare by developing new and innovative next-generation treatment options, is pleased to announce the Company has entered into a securities purchase agreement (the ' Securities Purchase Agreement ') with High Trail Special Situations LLC (' High Trail '), pursuant to which the Company agreed to sell and issue to High Trail up to US$500,000,000 in aggregate principal amount of unsecured convertible debentures (the ' Convertible Debentures '). The sale and issue of US$50,000,000 principal amount of Convertible Debentures was completed on June 30, 2025 (the ' Private Placement '). The sale and issue of US$450,000,000 of the principal amount of Convertible Debentures will be determined at a future date, upon mutual agreement of the parties. 'This financing represents a major inflection point for Cybin and supports our position as a leader within our sector,' said Doug Drysdale, Chief Executive Officer of Cybin. "High Trail Capital is an experienced investor, and its confidence and appreciation of our breakthrough clinical data and intellectual property portfolio recognize the potential of the Company. This financing comes at an opportune time for Cybin, as we advance our lead programs, CYB003 and CYB004, in Phase 3 and Phase 2, respectively. CYB003 demonstrated over 70% remission rates and continued durability over 12 months for patients with uncontrolled depression. We await the conclusion of our CYB004 Phase 2 proof-of-concept study, in patients with generalized anxiety disorder,' said Drysdale. Joseph Gunnar & Co., LLC acted as the sole placement agent in connection with this transaction. Pipeline Acceleration Drives Multiple Value Creation Catalysts The funding will accelerate Cybin's clinical-stage programs across multiple high-value indications: CYB003 Program Achievements: Breakthrough Clinical Results: Unprecedented 71% remission rate in major depressive disorder at 12 months after two 16 mg doses in Phase 2 study Durability advantage: 12-month sustained efficacy demonstrating long-term therapeutic benefit FDA Recognition: Breakthrough Therapy Designation received, expediting regulatory pathway Multinational Phase 3 PARADIGM program underway CYB004 Program Momentum: Dual Indication Strategy: Expanding addressable market opportunity Phase 2 GAD study expected to complete around mid-year 2025 1 Commercialization Infrastructure: Manufacturing Scale-Up: Finalizing production capabilities for market launch IP Portfolio Expansion: Strengthening competitive moat with more than 90 patents issued and over 230 applications pending Strategic Partnerships: Developing market access and pre-commercialization alliances Value Catalysts Drive Sustained Momentum Near-Term Catalysts: CYB004 Phase 2 GAD study expected to complete around mid-2025 1 Initiation of second CYB003 pivotal study, EMBRACE, around mid-2025 1 EXTEND study initiation imminent 1 Medium-Term Catalysts (2025-2026): Phase 3 top line readout for CYB003 2H 2026 1 Regulatory submission preparations Commercial manufacturing readiness International market expansion planning Transaction Terms The Convertible Debentures have a two-year term from the closing date (the ' Term '). The Company shall pay guaranteed interest equal to 5.5% of the principal per annum for the Term. Such interest was pre-paid on closing. Upon the occurrence of an event of default, interest shall increase to a rate of 18% per annum on the outstanding principal balance. Pursuant to the terms of the Securities Purchase Agreement, the Company and High Trail may, upon mutual consent, enter into subsequent securities purchase agreements for the purchase and sale of up to an additional US$450,000,000 principal amount of Convertible Debentures, in tranches, in amounts on such dates as may be mutually agreed and each subsequent tranche shall include prepaid interest at a rate of 9.5%. Subject to the terms of the Securities Purchase Agreement and the Convertible Debentures, High Trail will be entitled to convert the principal amount of, and accrued and unpaid interest, if any, on each Convertible Debenture, in whole or in part, from time to time, into common shares in the capital of the Company (the ' Common Shares ') at a conversion price per Common Share equal to the lower of (a) 130% of the volume weighted average price (' VWAP ') of the Common Shares on the day prior to the initial issuance of the Convertible Debentures, or (b) the VWAP of the Common Shares during the five trading days immediately prior to the date of conversion. The Company, in its sole discretion, may prepay any outstanding amount under the Convertible Debentures, in whole or in part, in cash by providing High Trail with advance written notice prior to such prepayment. The prepayment shall include, (i) if paid during the first year after closing, a 5% prepayment premium on the amount of the prepayment or (ii) if paid thereafter, a 3% prepayment premium on the amount of the prepayment. The terms of the Convertible Debentures restrict the conversion of Convertible Debentures by High Trail if such a conversion or exercise would cause High Trail, together with any affiliate thereof, to beneficially own in excess of 4.99% of the number of Common Shares outstanding immediately after giving effect to such conversion. The Company intends to use the net proceeds from the Private Placement for working capital and general corporate purposes. The Convertible Debentures were offered on a private placement basis pursuant to prospectus exemptions in Canada and pursuant to exemptions and exclusions from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws. The Company has agreed to use commercially reasonable efforts to: (a) file a prospectus supplement to the Company's base shelf prospectus dated August 17, 2023, as amended on December 22, 2023, April 8, 2024 and January 6, 2025, with applicable Canadian securities regulators to qualify the secondary market sales of the Common Shares in the United States; and (b) either (i) prepare and file the Canadian prospectus supplement with the United States Securities and Exchange Commission, or (ii) file a prospectus supplement pursuant to General Instruction II.L of Form F-10 with the United States Securities and Exchange Commission to the Company's registration statement on Form F-10 (File No. 333-284173), which was declared effective by the SEC on January 14, 2025, or on such other form as may be available to the Company, in either case qualifying the resale of the Common Shares underlying the Convertible Debentures. No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been registered under the U.S. Securities Act, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws About Cybin Cybin is a late-stage breakthrough neuropsychiatry company committed to revolutionizing mental healthcare by developing new and innovative next-generation treatment options to address the large unmet need for people who suffer from mental health conditions. With promising proof-of-concept data, Cybin is working to change the mental health treatment landscape through the introduction of intermittent treatments that provide long lasting results. The Company is currently developing CYB003, a proprietary deuterated psilocin analog, in Phase 3 studies for the adjunctive treatment of major depressive disorder and CYB004, a proprietary deuterated N, N-dimethyltryptamine molecule in a Phase 2 study for generalized anxiety disorder. The Company also has a research pipeline of investigational, 5-HT-receptor focused compounds. Founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom, the Netherlands and Ireland. For Company updates and to learn more about Cybin, visit or follow the team on X, LinkedIn, YouTube and Instagram. Notes: There is no assurance that timelines will be met. Anticipated timelines regarding the initiation, advancement and results of clinical trials are based on reasonable assumptions informed by current knowledge and information available to the Company. See 'Cautionary Notes and Forward-Looking Statements'. Cautionary Notes and Forward-Looking Statements Certain statements in this news release constitute forward-looking information and forward-looking statements within the meaning of applicable securities laws (together, 'forward-looking statements'). Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as 'may', 'should', 'could', 'intend', 'estimate', 'plan', 'anticipate', 'expect', 'believe' or 'continue', or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the use of Private Placement proceeds; the conversion of the Convertible Debentures into Common Shares; the sale and issue of US$450,000,000 principal amount of Convertible Debentures at a future date; CYB004 Phase 2 GAD study expected to complete around mid-2025; Initiation of second CYB003 pivotal study, EMBRACE, around mid-2025; the Company's Medium-Term Catalysts for 2025-2026; Phase 3 PARADIGM program enrollment acceleration; the Company's ability to achieve commercial success; and the Company's ability to address the need for new and innovative treatment options for people who suffer from mental health conditions. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the psychedelics market; the ability of the Company to successfully achieve its business objectives; plans for growth; political, social and environmental uncertainties; employee relations; the presence of laws and regulations that may impose restrictions in the markets where the Company operates; implications of disease outbreaks on the Company's operations; and the risk factors set out in each of the Company's management's discussion and analysis for the three and nine month periods ended December 31, 2024 and the Company's annual information form for the year ended March 31, 2024, which are available under the Company's profile on and with the SEC on EDGAR at Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law. Cybin makes no medical, treatment or health benefit claims about Cybin's proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds can diagnose, treat, cure or prevent any disease or condition. Rigorous scientific research and clinical trials are needed. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin's performance and operations.
Yahoo
2 hours ago
- Yahoo
Mike Lee Shoves Another Bad Land Sale Provision into the Senate's Final Budget Bill
UPDATE: Facing overwhelming opposition from all Democrats and a growing number in his own party, Utah Republican Senator Mike Lee tonight withdrew his proposal to sell millions of acres of public land to help balance the federal budget. Universally reviled legislation that will sell up to 1.25 million acres of BLM land around the West starting this fall has been placed in the Senate's final budget bill which will face floor votes as early as today. Utah Sen. Mike Lee (R), chairman of the Senate Energy and Natural Resources Committee that oversees the Interior Department's budget, released new language Friday night that doubles down on his longstanding desire to reduce the federal estate, using veiled language that justifies land sales to alleviate housing shortages in fast-growing Western cities. The bill's latest draft tightens problematic language of earlier versions that risked being flagged by the Senate parliamentarian as non-conforming for a reconciliation bill, say sources who reviewed Lee's draft late last night. But it contains the most unacceptable provisions to public-land advocates, and could open some of the West's most remote and cherished public lands for sale. Because it now includes unallocated mineral leases, it could also balloon the amount of land eligible for sale. Specifically, the final draft expands the definition of eligible BLM land, which Lee says is designed to promote affordable housing and urban infrastructure, by prioritizing federal land sales within five miles of the border of 'population centers.' Instead of using the commonly accepted definition of a population center as a municipality of 2,500 or more people, the new draft defines a population center as 'a census-designated place or incorporated municipality with a population of not less than 1,000 persons.' This provision greatly expands the eligibility of BLM land that could be sold surrounding unincorporated rural communities. Last night's draft also now allows leasing of some previously protected lands, omitting national preserves, national seashores, lakeshores, national historic sites, and national memorials and battlefields from the categories of land that could not be considered for sale. It includes unallocated subsurface mineral leasing as a qualifying covenant for land sales, along with earlier drafts that omit active surface uses and BLM land with active livestock-grazing leases from sale consideration. This allowance of unsubscribed mineral rights could greatly increase the number of eligible acres for sale to something over 3 million, say sources. That's because the BLM administers subsurface mineral rights on some 700 million onshore and offshore acres. If millions of those acres now qualify for sale because of Lee's new language 'we could be talking about the sale of way more than 1.25 million acres,' says a land-use expert who was still researching the question as of this morning. 'We could be talking 3 million and more, depending on the answer to the question of whether the BLM owns those rights or simply administers them.' Lee's latest draft also changes the definition of who can bid on this 'surplused' public land. Nominations for tracts can come from what Lee defines as 'qualified bidders.' That term is not defined in the bill. The bill extends the mandatory sale deadline from five to 10 years and increases the amount of federal money that will be used to execute these sales from $5 million to $15 million. But what's especially galling to critics of the bill, who note the many loopholes that allow disposal of federal land for purposes other than affordable housing, is that the new draft adds criteria for disposal of our most valuable lands to include a mechanism for consolidating large ranches and for including 'isolated tracts that are difficult to manage.' That last provision could list for sale some of the most valuable hunting and fishing acreage in the West. Sources noted, with rising alarm, that Lee's latest draft appears to be calibrated to make it through Senate parliamentary scrutiny. 'This appears to be an effort to try and survive parliamentarian review,' says David Willms, associate vice president for public lands for the National Wildlife Federation. 'Adding a priority of selling the highest value lands, and including subsurface rights along with the surface rights seems to be an effort to sell the provision as one with primarily budget impacts, which is necessary to survive the Byrd Rule' that requires items in reconciliation bills to have budgetary, rather than policy, implications. 'Obviously, to anyone that cares about public lands, however, that's simply a smokescreen to sell an area more than twice the size of Rocky Mountain National Park to an as-yet-undefined 'qualified bidder,'' says Willms. 'But it's also an indication of the sloppy and haphazard nature of this latest bill.' Lee's new draft is so contrary to and tone-deaf to the hundreds of thousands of calls, letters, and emails to congressional offices over the past week that some critics of the bill suggest that it's designed to fail in full Senate voting that starts today. In an Instagram reel, New Mexico Sen. Martin Heinrich (D) noted that the groundswell of calls to congressional offices is the 'broadest and deepest coalition that I have ever seen for public lands in my life. Keep it up. We are winning.' View this post on Instagram A post shared by Senator Martin Heinrich (@senatormartinheinrich) Fellow Republican Senators, including Montana's Steve Daines and Tim Sheehy and Idaho's Mike Crapo and Jim Risch, have publicly stated their opposition to the bill. The news site NOTUS yesterday reported that Daines has the votes to kill Lee's draft in the budget reconciliation process. That's the expedited process that requires only a simple majority in both the House and Senate for passage. Republicans hold a 3-vote majority in both chambers. At least five Republicans in the House of Representatives have said they won't vote for any version of the budget bill that contains the land-sale provision. They include Montana's Ryan Zinke, Mike Simpson from Idaho, Dan Newhouse from Washington, Oregon's Cliff Bentz, and David Valadao from California — all Westerners with large public-land holdings in their congressional districts. 'At the end of the day, I would bet on this [bill language] getting kicked out, but it's gonna be a slog,' says a public-land advocate who asked not to be named as they were still reviewing the bill draft. 'I'm still wondering if, in the long run, Lee is doing more to help public lands, by inspiring so much advocacy, than to hurt them.' Land Tawney, whose group American Hunters and Anglers has been a vocal opponent of the land-sale legislation, says the latest draft confirms Lee's inability to read the national mood. Read Next: Silencer Deregulation Plan Fails in the Senate 'Regardless of how Mike Lee polishes his public lands sell off proposal, it's still a piece of shit,' says Tawney. 'Not a square inch of our public lands should be used to pay off tax breaks for billionaires.'
