NEW YORK, Dec. 22, 2019 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that class action complaints have been filed on behalf of shareholders of MMSI, QUAD, and PLT. If you wish to serve as lead plaintiff, you must move the court by the lead plaintiff deadlines listed below. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you take no action, you may remain an absent class member.
To discuss the cases below please contact Matthew E. Guarnero toll free at (877) 779-1414.
Merit Medical Systems Inc. (MMSI)
CLASS PERIOD: 02/26/2019-10/30/2019
LEAD PLAINTIFF DEADLINE: February 3, 2020
Defendants failed to disclose that: (a) the integrations of Cianna and Vascular Insights, including their products, sales people, and R&D facilities, had caused operational disruptions and reduced sales and were months behind schedule; (b) sales of acquired company products had slowed substantially due to pre-acquisition pipeline fill, in particular for Vascular Insights products which, as late as July 2019, had zero orders during fiscal 2019; and (c) in light of the foregoing, the Company’s reported financial guidance for fiscal 2019 and 2020 was made without a reasonable basis.
Quad/Graphics, Inc., (QUAD)
CLASS PERIOD: 02/21/2018 - 10/29/2019
LEAD PLAINTIFF DEADLINE: January 6, 2020
Defendants failed to disclose to investors that: (1) that the Company’s book business in United States was underperforming; (2) that, as a result, the Company was likely to divest its book business; (3) that the Company was unreasonably vulnerable to decreases in market prices; (4) that, to remain financially flexible while market prices decreased, the Company was likely to cut its quarterly dividend and expand its cost reduction programs; and (5) that, as a result of the foregoing, Defendants positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Plantronics, Inc. (PLT)
CLASS PERIOD: 07/02/2018 - 11/05/2019
LEAD PLAINTIFF DEADLINE: January 13, 2020
Defendants failed to disclose to investors that: (1) that the Company had engaged in channel stuffing to artificially boost sales; (2) that the Company's internal control over inventory levels was not effective; (3) that the Company had not adequately monitored inventory levels ahead of multiple product launches, where the new models would displace demand for aging products; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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