Investigation announced for Long-Term Investors in shares of Merit Medical Systems, Inc. (NYSE: MMSI)

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Merit Medical Systems, Inc.

Investors who purchased shares of Merit Medical Systems, Inc. (NYSE: MMSI) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Merit Medical Systems, directors breached their fiduciary duties and caused damage to the company and its shareholders.

South Jordan, UT based Merit Medical Systems, Inc. manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. After the market closed on July 25, 2019, Merit Medical Systems, Inc announced its financial and operating results for the second quarter of 2019. Merit Medical Systems, Inc announced net income of $6.9 million, or $0.12 per share, compared to $10.9 million, or $0.21 per share for the same period in the prior year. Merit Medical’s Chairman and Chief Executive Officer, Fred P. Lampropoulos, cited “a number of factors affecting revenues and gross margins during the second quarter,” including “foreign exchange [and] slower than anticipated conversion and uptake of acquired products.”
On October 30, 2019, the Company announced its third quarter 2019 financial results, lowered revenue guidance for fiscal 2019, and eliminated previously issued guidance for fiscal 2020.

Shares of Merit Medical Systems, Inc. (NYSE: MMSI) declined from $60.50 per share on July 1, 2019 to as low as $19.50 per share on October 31, 2019.

Those who purchased shares of Merit Medical Systems, Inc. (NYSE: MMSI) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.