Michael has over 20 years of experience representing individual and small business plaintiffs against the world’s large financial institutions, including Visa, Mastercard, and Chase.
Our securities attorneys are investigating an Indivior class action lawsuit, on behalf of investors, following reports that the Department of Justice criminally charged Indivior (INVVY) with orchestrating a multi-billion dollar scheme to fraudulently drive up the price of its opioid-addiction treatment. Upon this news, Indivior’s stock price dropped 71%.
Indivior Stock Price Plunges 71% Following News of U.S. Criminal Charges
Before the market opened on 4/10/2019, the U.S. Justice Department charged Indivior with organizing a massive fraud to drive up sales of Suboxone Film, its opioid-addiction treatment. According to the Wall Street Journal:
the Justice Department said Indivior (INDV -71.64%) PLC set up a telephone and online program intended to connect callers with doctors that Indivior knew were prescribing Suboxone or opioids in a “careless and clinically unwarranted manner.”
The BBC reports that the federal grand jury accused Indivior of a “truly shameful scheme to put profits over the health and well-being of patients.” For example, Indivior promoted its Suboxone Film treatment as having “lower risk of child exposure” and being “less divertable and abusable,” even though its own managers had said that “under no circumstances” could the company make those claims because they weren’t accurate, according to WSJ.
Indivior, which calls itself the market leader in addiction treatment, issued an 8-page rebuttal, according to BBC. The company faces a DOJ demand for at least $3 billion in fines, BBC reports .
Following the news of the charges against Indivior, shares of INVVY plummeted more than 70% in intraday trading.
Our Winning Track Record against Some of the World's Largest Companies
Our securities lawyers have recovered over a billion dollars on behalf of our clients against behemoths, such as Chase Bank, Mastercard, and Anthem Blue Cross Blue Shield. Read more about our results.
You “shouldn’t presume that powerful banks and other powerful interests can just get away with doing bad things. Good, qualified counsel that are committed to a cause can usually figure out how to prosecute such cases effectively and prevail.”
–Eric Gibbs, award-winning securities attorney
“I’ve always found them to be extraordinary counsel”
In Our AT&T Class Action
They “fought tooth and nail, down to the wire” to achieve “the best settlement that they could under the circumstances.”
In Our Chase Class Action ($100 million settlement)
Read more about what judges say about us.
Our Securities Practice
Gibbs Law Group’s financial fraud and securities lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.
We have fought some of the most complex cases brought under federal and state laws nationwide, and our attorneys have been recognized with numerous awards and honors for their accomplishments, including Top 100 Super Lawyers in Northern California, Top Plaintiff Lawyers in California, The Best Lawyers in America, and rated AV Preeminent (among the highest class of attorneys for professional ethics and legal skills).
Our Financial Fraud Victories
|American Express Financial Advisors Securities Litigation||$100 million cash settlement for clients alleging American Express steered them into under-performing “shelf space funds” to reap kickbacks|
|Chase Bank “Check Loan” Litigation||$100 million settlement for consumers alleging Chase offered long-term fixed-rate loans, only to later more-than-double required payments|
|Peregrine Financial Group Customer Litigation||Settlements worth $75 million for futures and commodities investors who lost millions in the collapse of Peregrine Financial Group, Inc.|
|NantHealth||Court-appointed Co-Lead Counsel in a securities class action alleging the company’s founder violated federal securities law and artificially inflated stock prices|
Our Securities Attorneys
Eileen oversees the firm’s securities practice and has over a decade of experience in the legal world. She received her law degree from American University in 2005.
David’s advocacy has generated major recoveries for consumers impacted by financial fraud. He was named to the Top 40 Under 40 by Daily Journal and a “Rising Star in Class Actions” by Law360.
Amanda is spearheading a securities lawsuit against NantHealth concerning fraudulent statements to investors about the success of its key product.
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