Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, May 14, 2024 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises QuidelOrtho Corporation f/k/a Quidel Corporation (NASDAQ: QDEL). investors that a lawsuit was filed on behalf of investors that purchased QuidelOrtho securities between February 18, 2022 and April 1, 2024, inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The lawsuit claims that during the class period, the Defendants made materially false and/or misleading statements, as well as failed to disclose the following: (a) QuidelOrtho oversold COVID-19 tests to its distributors and pharmacy chain customers beyond their capacity to resell to healthcare providers and end users; (b) this led to excessive inventories of COVID-19 tests throughout the supply chain; (c) consequently, QuidelOrtho’s distributors and pharmacy chain customers were likely to significantly decrease their orders for COVID-19 tests; (d) undisclosed issues were likely to delay the U.S. commercial launch of QuidelOrtho’s new test, the Savanna Respiratory Viral Panel-4 Test; (e) due to these factors, the Defendants did not have a reasonable basis for their optimistic statements regarding QuidelOrtho’s business, financial conditions, and growth prospects.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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