Cases
Meridian Bioscience, Inc. (NASDAQ: VIVO)
Securities Class Action
Overview
Overview
- Date:
- 11/17/2017
- Company Name:
- Meridian Bioscience, Inc.
- Stock Symbol:
- VIVO
- Class Period:
- FROM 3/25/2016 TO 7/13/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: District of Southern Ohio
NEW YORK, November 17, 2017 – Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of Ohio on behalf of all persons or entities who purchased or otherwise acquired Meridian Bioscience, Inc. (NASDAQ: VIVO) securities between March 25, 2016 and July 13, 2017 (the “Class Period”). Investors have until January 16, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
According to the complaint, on March 24, 2016, Meridian announced the company's acquisition of Magellan Biosciences, Inc. and Magellan Diagnostics, Inc., representing Magellan to be "the leading provider of point-of-care lead testing systems" and as having a "robust product development pipeline." However, Magellan's lead tests were called into question on May 17, 2017, when the U.S. Food and Drug Administration ("FDA") warned the public that Magellan's lead tests may provide inaccurate results. As the truth was revealed, Meridian's stock price fell $1.30 per share, or over 8%, to close at $13.45 per share on May 17, 2017. The FDA subsequently launched an investigation into the issue and inspected Magellan's facility, stating that the evidence collected indicated several observations that may be violations of federal law.
If you purchased or otherwise acquired Meridian Bioscience securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
According to the complaint, on March 24, 2016, Meridian announced the company's acquisition of Magellan Biosciences, Inc. and Magellan Diagnostics, Inc., representing Magellan to be "the leading provider of point-of-care lead testing systems" and as having a "robust product development pipeline." However, Magellan's lead tests were called into question on May 17, 2017, when the U.S. Food and Drug Administration ("FDA") warned the public that Magellan's lead tests may provide inaccurate results. As the truth was revealed, Meridian's stock price fell $1.30 per share, or over 8%, to close at $13.45 per share on May 17, 2017. The FDA subsequently launched an investigation into the issue and inspected Magellan's facility, stating that the evidence collected indicated several observations that may be violations of federal law.
If you purchased or otherwise acquired Meridian Bioscience securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.