NEW YORK, Jan. 17, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct at Alere Inc. ("Alere" or the "Company") (NYSE: ALR).
The investigation focuses on whether the Company's Board of Directors and/or its officers committed mismanagement and breached their fiduciary duties in connection with the potential acquisition of the Company by Abbott Laboratories ("Abbott"). On December 7, 2016, Abbott filed a complaint in the Court of Chancery of the State of Delaware seeking to terminate its $5.8 billion buyout of Alere. Scott Stoffel, Abbot's division vice president of external communications, stated that "[t]hese numerous negative developments [including alleged billing practices under regulatory investigation] are unprecedented and are not isolated incidents brought on by chance. We have attempted to secure details and information to assess these issues for months, and Alere has blocked every attempt. This damage to Alere's business can only be the result of a systematic failure of internal controls, which combined with the lack of transparency, led us to filing this complaint."
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If you currently own Alere stock and would like to discuss your legal rights, please visit www.faruqilaw.com/ALR. You can also contact us by calling Nina Varindani toll free at (212) 983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Alere's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
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Attn: Nina Varindani
Telephone: (212) 983-9330
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Telephone: (215) 277-5770
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SOURCE Faruqi & Faruqi, LLP