LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired West Pharmaceutical Services, Inc. (“West” or the “Company”) (NYSE: WST) common stock between February 16, 2023 and February 12, 2025, inclusive (the “Class Period”). West investors have until July 7, 2025 to file a lead plaintiff motion.
IF YOU SUFFERED A LOSS ON YOUR WEST PHARMACEUTICAL SERVICES, INC. (WST), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS
What Happened?
On February 13, 2025, West issued disappointing revenue and earnings forecasts for 2025, attributing it, in part, to Contract Manufacturing headwinds, including the loss of two major continuous glucose monitoring customers. Additionally, West disclosed 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 price fell $123.17, or 38.2%, to close at $199.11 per share on February 13, 2025, thereby injuring investors.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) 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 HVP portfolio; (2) 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; (3) these margin pressures created the risk of costly restructuring activities, including the Company’s exit from continuous glucose monitoring (“CGM”) contracts with long-standing customers; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired West common stock during the Class Period, you may move the Court no later than July 7, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.
Glancy Prongay & Murray LLP
1925 Century Park East, Suite 2100
Los Angeles California 90067
Email: [email protected]
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com
Follow us for updates on LinkedIn, Twitter, or Facebook.
If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Charles Linehan
Email: [email protected]
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at: www.glancylaw.com.
