NEW YORK--(BUSINESS WIRE)--Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a global investor rights law firm, reminds investors that June 20, 2016 is the last day to file lead plaintiff papers in the securities lawsuit against Alere Inc. (“Alere” or “Company”) and certain of its directors (collectively, “Defendants”). Alere investors are encouraged to contact Scott+Scott at (800) 404-7770 or email firstname.lastname@example.org to discuss their legal rights.
About the Lawsuit
The complaint alleges that between May 9, 2013 and April 20, 2016, inclusive (the “Class Period”), Defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Alere improperly recognized and reported revenue in violation of Generally Accepted Accounting Principles (“GAAP”); (2)as a result, Alere’s quarterly and annual SEC filings would be delayed; (3) as a result of the foregoing, Alere’s planned merger with Abbott Laboratories would be thrown into doubt; (4) Alere lacked adequate internal controls over accounting and financial reporting; and (5) as a result of the foregoing, Alere’s financial statements, as well as Defendants’ statements about Alere’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On March 15, 2015, Alere filed a current report on Form 8-K with the SEC and disclosed that Alere would be unable to file its 2015 Form 10-K within the extension period because it was “continuing to conduct an analysis of certain aspects of the timing of revenue recognition, more specifically, revenue cutoff, in Africa and China for the years ended December 31, 2013, 2014 and 2015 (and each of the quarters in those annual periods).” Alere also disclosed that it received a grand jury subpoena from the United States Department of Justice “requiring the production of documents relating to, among other things, sales, sales practices and dealings with third-parties (including distributors and foreign governmental officials) in Africa, Asia and Latin America and other matters related to the U.S. Foreign Corrupt Practices Act.”
What You Can Do
If you purchased shares of Alere stock, you may have legal claims against the Company. If you want to discuss filing lead plaintiff papers, or have questions about your legal rights, please contact by telephone at (800) 404-7770, or by email at email@example.com or firstname.lastname@example.org.
About Scott + Scott, Attorneys at Law, LLP
Scott+Scott has significant experience prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm has offices in New York, London, Connecticut, California, and Ohio. Please visit www.scott-scott.com for more information about the firm.