Class Action Lawsuit Filed Against QuidelOrtho Corporation f/k/a Quidel Corporation (QDEL)
Background:
On June 11, 2024, a class action lawsuit was filed against QuidelOrtho Corporation, formerly known as Quidel Corporation (QDEL), in the United States District Court for the Northern District of California. The lawsuit alleges that the company misled investors about the accuracy and reliability of its COVID-19 tests.
Allegations:
The plaintiffs in the lawsuit allege that QuidelOrtho: * Falsely represented the sensitivity and specificity of its COVID-19 tests. * Failed to disclose that its tests were producing a significant number of false positive results. * Concealed material information about the limitations of its tests. * Made misleading statements about the company’s financial performance based on the alleged inflated sales of its COVID-19 tests.
Class Definition:
The class action is brought on behalf of all individuals and entities who purchased or acquired QuidelOrtho common stock between January 28, 2020, and April 29, 2021.
Damages:
The plaintiffs seek unspecified damages, including: * Compensatory damages for losses incurred due to the decline in QuidelOrtho’s stock price. * Punitive damages to deter the company from engaging in similar misconduct in the future.
Deadline to Join:
The deadline to join the class action lawsuit is June 11, 2024. Investors who meet the class definition and wish to participate in the lawsuit must file a request with the court by that date.
Legal Counsel:
The plaintiffs are represented by the law firm of Pomerantz LLP.
Response from QuidelOrtho:
QuidelOrtho has denied the allegations in the lawsuit and has stated that it intends to vigorously defend itself. The company has not yet filed a formal response to the lawsuit.
Impact on Investors:
The lawsuit could have a significant impact on investors who purchased QuidelOrtho stock during the class period. If the plaintiffs are successful in their claims, investors could recover substantial damages. It is important for investors to carefully review the lawsuit and consult with their financial advisors to understand their options.
Disclaimer:
The information contained in this article is for informational purposes only and does not constitute legal advice. Readers are advised to seek the advice of a qualified attorney before making any decisions.
Class Action Lawsuit Filed Against QuidelOrtho Corporation f/k/a Quidel Corporation (QDEL)
A class action lawsuit has been filed against QuidelOrtho Corporation, formerly known as Quidel Corporation. The lawsuit alleges that the company made false and misleading statements about its COVID-19 tests, which led to investors losing money. The lawsuit alleges that QuidelOrtho misrepresented the accuracy and effectiveness of its COVID-19 tests, and that the company knew or should have known about these misrepresentations. As a result, investors bought QuidelOrtho stock at inflated prices, only to see its value drop when the truth about the tests was revealed. The deadline to join the class action lawsuit is June 11, 2024. If you purchased QuidelOrtho stock during the period of time covered by the lawsuit, you may be eligible to join the class and seek compensation for your losses. To learn more about the lawsuit and how to join, you can contact the law firm representing the plaintiffs:
Law Firm:
Robbins Geller Rudman & Dowd LLP
Contact:
J.C. Sanchez
Email:
[email protected]
Phone:
(800) 449-4900
Important Notice:
If you have purchased QuidelOrtho stock and are considering joining the class action lawsuit, it is important to act promptly. The deadline to join is June 11, 2024, and failing to join by that date could result in you losing your right to seek compensation.
