NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) — Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of QuidelOrtho Corporation (NASDAQ: QDEL) breached their fiduciary duties to shareholders.
According to a federal securities lawsuit, QuidelOrtho insiders caused the company to misrepresent or fail to disclose that (a) QuidelOrtho sold more COVID-19 tests to its distributors and pharmacy chain customers than they could resell to healthcare providers and end customers; (b) excess inventories of COVID-19 tests existed throughout the supply chain; (c) as a result, QuidelOrtho’s distributors and pharmacy chain customers were poised to significantly reduce their COVID-19 test orders; (d) undisclosed problems created a heightened risk that the new test called the savanna respiratory viral panel-4 test would experience a delayed commercial launch in the united states; (e) as a result, the company lacked a reasonable basis for positive statements about QuidelOrtho’s business, financials, and growth trajectory.
If you currently own QDEL and purchased prior to February 18, 2022 please contact Justin Kuehn, Esq. here, by email at [email protected] or call (833) 672-0814. The consultation and case are free with no obligation to you. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
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For additional information, please visit Shareholder Derivative Litigation – Kuehn Law.
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Contacts:Kuehn Law, PLLCJustin Kuehn, Esq.53 Hill Street, Suite 605 Southampton, NY [email protected](833) 672-0814
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