Investors suffering losses on their Meridian Bioscience investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
On May 17, 2017, the U.S. Food and Drug Administration (“FDA”) issued a warning to Meridian that lead tests conducted by the Company’s subsidiary, Magellan Diagnostics, may be incorrect. According to the FDA, tests performed on blood drawn from a vein has led to “results that are lower than the actual level of lead in the blood.” The FDA has recommended discontinuation of Magellan when testing with venous blood samples. On this news, Meridian shares fell over 9% on May 17, 2017. Then on May 25, 2017, Meridian’s Magellan Diagnostics announced a Class 1 recall of its LeadCare Plus and Ultra Testing Systems due to “inaccurate test results.”
On June 6, 2017 Meridian’s Magellan Diagnostics subsidiary expanded the recall to incorporate the Company’s LeadCare and LeadCare II testing systems. On this news, shares of Meridian traded as low as $13.40 per share.
The complaint alleges that throughout the class period Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Defendant’s lead tests provide inaccurate results; and (2) consequently, Meridian’s public statements were materially false and misleading at all relevant times.
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If you purchased shares of Meridian Bioscience during the Class Period you may move the Court no later than January 16, 2018 to ask the Court to appoint you as lead. 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. 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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