NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of Meridian Bioscience, Inc. (NASDAQ: VIVO) concerning possible violations of federal securities laws.
On January 25, 2017, Meridian announced disappointing first-quarter 2017 fiscal year financial results, revised its previously-issued revenue guidance for the 2017 fiscal year downwards, and announced that the Board of Directors reduced the annual indicated dividend rate. Chief Executive Officer of Meridian, John A. Kraeutler, attributed the negative first quarter 2017 results to revenue declines in Meridian’s Americas diagnostic business—Meridian’s largest profit driver—across all major product categories, “due to customer buying patterns and general weakness overall.” On this news, shares of Meridian fell over 22% to close at $12.80 per share on January 25, 2017. To obtain additional information, go to:
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