Levi & Korsinsky Reminder: QuidelOrtho Lawsuit Deadline
May 13, 2024 : Law firm Levi & Korsinsky LLP reminds investors of QuidelOrtho Corporation (NASDAQ: QDEL) about the ongoing class action lawsuit against the company. The lawsuit alleges violations of federal securities laws, and a deadline for investors to serve as lead plaintiffs is approaching.
The lawsuit centers on claims that QuidelOrtho misled investors regarding the market demand for COVID-19 testing products. Specifically, the complaint alleges that the company:
- Oversold its COVID-19 tests to distributors and pharmacies, leading to excess inventory throughout the supply chain.
- Failed to disclose these inventory issues, resulting in a significant decline in demand for their COVID-19 tests.
According to the lawsuit, this misconduct caused investors to suffer financial losses as the company’s stock price fell sharply.
The deadline for an investor to serve as lead plaintiff in this class action lawsuit is June 11, 2024. A lead plaintiff is an investor who takes a leading role in representing the interests of the entire class of investors who have suffered losses.
Levi & Korsinsky LLP encourages investors who purchased QuidelOrtho stock between February 18, 2022, and April 1, 2024, to contact the firm to discuss their legal options. The firm emphasizes that contacting the firm does not obligate investors to participate in the lawsuit, but it is an important step in preserving their rights to seek potential compensation.
It is important to note that this is just a news report and does not constitute legal advice. Investors should consult with their legal counsel to determine if participating in the class action lawsuit is the right decision for them.
The outcome of the lawsuit remains uncertain. The allegations against QuidelOrtho have not been proven in court, and the company denies any wrongdoing. However, the approaching deadline for a lead plaintiff signifies a significant development in this ongoing legal case. Investors with relevant holdings in QuidelOrtho stock should carefully consider their options before the June 11 deadline.
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