QuidelOrtho Corporation f/k/a Quidel Corporation
Case Overview
24 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 06/11/2024 |
Status: | Status: Investigating |
Company Name: | Company Name: QuidelOrtho Corporation f/k/a Quidel Corporation |
Court: | Court: Southern District of New York |
Case Number: | Case Number: 1:24cv02804 |
Class Period: | Class Period: 02/18/2022 - 04/01/2024 |
Ticker: | Ticker: QDEL |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired QuidelOrtho Corporation (f/k/a Quidel Corporation) (“QuidelOrtho” or the “Company”) (NASDAQ: QDEL) securities during the period of February 18, 2022 through April 1, 2024, inclusive (“the Class Period”). Investors have until June 11, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that QuidelOrtho made false statements and/or concealed that: (a) the Company 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 of (a)-(b) above, QuidelOrtho's distributors and pharmacy chain customers were poised to significantly reduce their COVID-19 test orders; and (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.
The lawsuit alleges that QuidelOrtho made false statements and/or concealed that: (a) the Company 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 of (a)-(b) above, QuidelOrtho's distributors and pharmacy chain customers were poised to significantly reduce their COVID-19 test orders; and (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.