IMPORTANT MERIT MEDICAL SYSTEMS, INC. INVESTOR REMINDER: Wol
NEW YORK, Jan. 23, 2020 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the District of Utah on behalf of Merit Medical Systems, Inc. ("Merit" or the "Company") (NASDAQ: MMSI) investors who purchased common stock between February 26, 2019 and October 30, 2019, inclusive (the "Class Period").
All investors who purchased shares of Merit Medical Systems, Inc. and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have incurred losses in the shares of Merit Medical Systems, Inc., you may, no later than February 3, 2020, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of Merit Medical Systems, Inc.
On July 25, 2019, post-market, the Company announced disappointing financial results for second quarter 2019, reporting net income of $6.9 million, or $0.12 per share, compared to $10.9 million, or $0.21 per share for the same period in the prior year. Merit's Chief Executive Officer cited "a number of factors affecting revenues and gross margins during the second quarter," including "foreign exchange [and] slower than anticipated conversion and uptake of acquired products."
On this news, the Company's stock price fell $13.84, or over 25%, to close at $41.00 on July 26, 2019.
Subsequently, on October 30, 2019, the Company announced its third quarter 2019 financial results, lowered revenue guidance for fiscal 2019, and eliminated previously issued guidance for fiscal 2020. After this release on the next trading day, the Company's stock price fell $8.45, or 29%, to close at $20.66 per share on October 31, 2019.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
Attorney Advertising. Prior results do not guarantee or predict a similar outcome.
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP