A lawsuit was filed on behalf of investors in Alere Inc (NYSE:ALR) shares over alleged securities laws violations and NYSE:ALR investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/25/2016 -- An investor, who purchased shares of Alere Inc (NYSE:ALR), filed a lawsuit in Massachusetts over alleged Securities Laws violations by Alere Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Alere Inc (NYSE:ALR) have certain options and for certain investors are short and strict deadlines running. Deadline: June 20, 2016. NYSE:ALR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff alleges on behalf of purchasers of Alere Inc (NYSE:ALR) common shares between May 9, 2013 and April 20, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 9, 2013 and April 20, 2016, the Defendants made allegedly false and/or misleading statements and/or failed to disclose that Alere Inc improperly recognized and reported revenue in violation of Generally Accepted Accounting Principles ("GAAP"), that, as a result, Alere's quarterly and annual SEC filings would be delayed, that, as a result of the foregoing, Alere's planned merger with Abbott Laboratories would be thrown into doubt, that Alere Inc lacked adequate internal controls over accounting and financial reporting, and that, as a result of the foregoing, the Company's financial statements, as well as Defendants' statements about Alere's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On March 15, 2016, Alere Inc disclosed receipt of a grand jury subpoena from the U.S. Department of Justice, relating to the U.S. Foreign Corrupt Practices Act ("FCPA"), seeking documents relating to the Company's sales practices in Africa, Asia and Latin America. Alere Inc also said it would be unable to timely file its annual report for 2015 and that it would need to restate the financial reports for the years 2013, 2014 and 2015 due to issues with its revenue recognition practices. Shares of Alere Inc (NYSE:ALR) declined on April 20, 2016 to as low as $40.50 per share.
Those who purchased shares of Alere Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com