LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Meridian Bioscience, Inc. (“Meridian” or the “Company”) (NASDAQ: VIVO) concerning the Company and its officers’ possible violations of federal securities laws. To obtain information or aid in the investigation, please visit the Meridian investigation page on our website at http://www.glancylaw.com/case/meridian-bioscience-inc.
On May 17, 2017, the U.S. Food and Drug Administration ("FDA") issued a warning to Meridian that lead tests conducted by the Company’s subsidiary, Magellan Diagnostics, may be incorrect. According to the FDA, tests performed on blood drawn from a vein has led to “results that are lower than the actual level of lead in the blood.” The FDA has recommended discontinuation of Magellan when testing with venous blood samples. On this news, Meridian shares fell over 9% on May 17, 2017. Then on May 25, 2017, Meridian’s Magellan Diagnostics announced a Class 1 recall of its LeadCare Plus and Ultra Testing Systems due to “inaccurate test results,” according to the FDA.
UPDATE: On June 6, 2017 Meridian’s Magellan Diagnostics subsidiary expanded the recall to incorporate the Company’s LeadCare and LeadCare II testing systems. According to the FDA, the expansion of the recall was necessitated by “inaccurate test results when processing venous blood samples”. On this news, shares of Meridian traded as low as $13.40 per share.
If you purchased Meridian securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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