An investigation on behalf of investors in Meridian Bioscience, Inc. (NASDAQ:VIVO) shares over potential wrongdoing at Meridian Bioscience, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/07/2017 -- An investigation for investors in shares of Meridian Bioscience, Inc. (NASDAQ:VIVO) was announced over potential breaches of fiduciary duties by certain Meridian Bioscience directors.
Investors who purchased shares of Meridian Bioscience, Inc. (NASDAQ:VIVO) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain Meridian Bioscience directors breached their fiduciary duties and caused damage to the company and its shareholders.
Meridian Bioscience, Inc. reported that its Total Revenue rose from $194.83 million for the 12 months period that ended on September 30, 2015 to over $196.08 million for the 12 months period that ended on September 30, 2016 and that its Net Income for those respective time periods declined from $35.54 million to $32.23 million.
On January 25, 2017, Meridian Bioscience, Inc announced negative first-quarter 2017 fiscal year financial results, revised its previously issued revenue guidance for the 2017 fiscal year downwards, and announced that the Board of Directors reduced the annual indicated dividend rate.
On May 17, 2017, the U.S. Food and Drug Administration ("FDA") issued a warning to Meridian Bioscience, Inc 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.
Shares of Meridian Bioscience, Inc. (NASDAQ:VIVO) declined on May 17, 2017 to $13.23 per share.
On June 6, 2017, NASDAQ:VIVO shares closed at $14.10 per share.
Those who purchased shares of Meridian Bioscience, Inc. (NASDAQ:VIVO) 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