NEW YORK, Dec. 12, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Meridian Bioscience, Inc. ("Meridian" or the "Company") (NASDAQ: VIVO). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Meridian and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 24, 2016, Meridian announced the acquisition of Magellan Biosciences, Inc. and its wholly-owned subsidiary Magellan Diagnostics, Inc. (together "Magellan"). Magellan provides point-of-care lead testing systems for the testing of blood to diagnose lead poisoning in children and adults. On May 17, 2017, the U.S. Food and Drug Administration ("FDA") issued a press release "warning Americans that certain lead tests manufactured by Magellan Diagnostics may provide inaccurate results." On this news, Meridian's share price fell $1.30, or 8.81%, to close at $13.45 on May 17, 2017. On July 13, 2017, the FDA announced that it had observed several potential violations of federal law during a recent inspection of Magellan's facility in North Billerica, Massachusetts.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP