The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Merit Medical Systems, Inc. (NASDAQ: MMSI) who purchased shares between February 26, 2019 and October 30, 2019. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Merit Medical lawsuit alleges that (a) the integrations of acquired companies Cianna Medical, Inc. and Vascular Insights, LLC, including their products, sales people, and R&D facilities, had caused operational disruptions and reduced sales and were months behind schedule; (b) sales of acquired company products had slowed substantially due to pre-acquisition pipeline fill, in particular for Vascular Insights products which, as late as July 2019, had zero orders during FY19; and (c) in light of the foregoing, the Company’s reported financial guidance for FY19 and FY20 was made without a reasonable basis.
Shareholders have until February 3, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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