An investigation on behalf of investors in Embecta Corp. (NASDAQ:EMBC) shares over potential wrongdoing at Embecta Corp. was announced.
San Diego, CA -- (SBWIRE) -- 04/21/2023 -- Certain directors of Embecta Corp. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Embecta Corp. (NASDAQ: EMBC) certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Embecta directors breached their fiduciary duties and caused damage to the company and its shareholders.
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.
Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.