NEW YORK, Oct. 02, 2023 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against FMC Corporation (NYSE: FMC), Veradigm, Inc. (NASDAQ: MDRX), and Blink Charging Co. (NASDAQ: BLNK). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
FMC Corporation (NYSE: FMC)
On July 10, 2023, before the market opened, FMC Corporation, despite raising its full-year revenue guidance in May 2023, announced that it was cutting its revenue for the second quarter and the 2023 fiscal year. It announced that “the revised guidance is driven by substantially lower-than-expected volumes due to an abrupt and significant reduction in inventory by channel partners, which only became evident towards the end of May and continued through the remainder of the quarter[.]”
On this news, the price of FMC stock fell by $11.62 per share, or 11.14%, to close at $92.63 on July 10, 2023.
For more information on the FMC investigation go to: https://bespc.com/cases/FMC
Veradigm, Inc. (NASDAQ: MDRX)
On February 28, 2023, Veradigm disclosed that it “detected certain internal control failures related to revenue recognition that have occurred over the prior six quarters, resulting in a mis-statement to reported revenues during those periods.” As a result, the Company reported that it expects “a reduction in revenue from continuing operations of approximately $20 million dollars in the aggregate from what it otherwise reported since the 3rd quarter of 2021 and expected to report for the 4th quarter of 2022.” The Company added that it is “continuing to evaluate the materiality of the mis-statement to determine if the full amount of this adjustment will flow through in the 4th quarter of 2022 or if prior periods will also require adjustment.” As a result, Veradigm revised its 2023 guidance downward and announced that it would not be filing its 2022 annual report on time.
On this news, Veradigm’s stock price fell $2.12 per share, or 12.76%, to close at $14.49 per share on March 1, 2023.
For more information on the Veradigm investigation go to: https://bespc.com/cases/MDRX
Blink Charging Co. (NASDAQ: BLNK)
On August 9, 2023, Blink disclosed that it received a subpoena from the Securities and Exchange Commission (“SEC”) requesting the “production of documentation and other information since January 1, 2020, relating to various subjects, including executive departures, related-party transactions, number of EV charging stations, and other discrete disclosure matters.” The Company further disclosed that it is “unable to predict what the timing or the outcome of the SEC investigation may be or what, if any, consequences the SEC investigation may have on us.”
Following this news, Blink’s stock price dropped 14% per share on August 10, 2023.
For more information on the Blink investigation go to: https://bespc.com/cases/BLNK
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
