An investigation for investors in Embecta Corp. (NASDAQ:EMBC) shares over potential securities laws violations by Embecta Corp. was announced.
San Diego, CA -- (SBWIRE) -- 01/18/2023 -- An investigation was announced over potential securities laws violations by Embecta Corp.
Investors who purchased shares of Embecta Corp. (NASDAQ: EMBC), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Embecta Corp. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Parsippany, NJ based Embecta Corp., a medical device company, focuses on the provision of various solutions to enhance the health and wellbeing of people living with diabetes. On December 20, 2022, Embecta Corp. released Fiscal 2022 Fourth Quarter and Full Year Financial Results. Among the items reported, Embecta stated that "an impairment charge of $58.9 million related to the abandonment of certain manufacturing production lines in the United States that are no longer expected to be completed, and a $5.5 million charge related to purchase commitments associated with the abandonment of the assets."
Shares of Embecta Corp. (NASDAQ: EMBC) declined from $36.64 per share on December 14, 2022, to as low as $24.11 per share on December 20, 2022.
Those who purchased shares of Embecta Corp. (NASDAQ: EMBC) have certain options and should contact the Shareholders Foundation.
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