SAN DIEGO & CINCINNATI--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Meridian Bioscience, Inc. (NasdaqGS: VIVO) violated federal securities laws by issuing materially false and misleading statements regarding the company's business and operations. Meridian, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for various gastrointestinal, viral, respiratory, and parasitic infectious diseases worldwide.
View this press release on the firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/meridian-bioscience-inc
Meridian Subsidiary's Lead Tests May be Inaccurate
On May 17, 2017, the U.S. Food and Drug Administration ("FDA") warned that lead tests made by Meridian's subsidiary, Magellan Diagnostics, may be inaccurate. The warning covers all four of the company's lead testing systems and is specific to tests performed on blood drawn from a vein, which "may provide results that are lower than the actual level of lead in the blood," according to the FDA. The FDA – which is "aggressively investigating" the cause of this issue – recommends that laboratories and health care personnel discontinue using Magellan testing with venous blood samples, as lead poisoning can be easily missed. On this news, Meridian's stock plunged 9.5% in morning trade on May 17, 2017.
Meridian Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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