Investors who lost money with shares of QuidelOrtho Corporation (NASDAQ: QDEL) should contact the Shareholders Foundation in connection with Lawsuit

An investor, who purchased shares of QuidelOrtho Corporation (NASDAQ: QDEL), filed a lawsuit over alleged violations of Federal Securities Laws by QuidelOrtho Corporation in connection with certain allegedly false and misleading statements.

Investors who purchased shares of QuidelOrtho Corporation (NASDAQ: QDEL) have certain options and for certain investors are short and strict deadlines running. Deadline: June 11, 2024. NASDAQ: QDEL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

San Diego, CA based QuidelOrtho Corporation focuses on the development and manufacture of diagnostic testing technologies and solutions. QuidelOrtho Corporation reported that its annual Total Revenue rose from over $1.69 billion in 2021 to over $3.26 billion in 2022, and that its Net Income declined from $704.2 million in 2021 to $548.7 million in 2022.

On February 13, 2024, QuidelOrtho Corporation reported fourth quarter and full-year 2023 financial results. GAAP net income for Q4 2023 was $7 million, with diluted earnings per share (EPS) of $0.10, a decrease from $30.3 million and $0.45 EPS in the prior year period. Revenue for the quarter was $742.6M, missing estimates by $44.86M.

Then the Board of Directors terminated Douglas Bryant, President and CEO. Mr. Bryant has also resigned from the Board, both effective February 21, 2024.

Shares of QuidelOrtho Corporation (NASDAQ: QDEL) declined from $75.83 per share on December 22, 2023, to $41.75 per share on February 16, 2024.

The plaintiff claims that between February 18, 2022 and April 1, 2024, the Defendants misled investors by making statements that were false and misleading when made because they knew or deliberately disregarded and failed to disclose the following adverse facts about QuidelOrtho's business, operations, and prospects that QuidelOrtho sold more COVID-19 tests to its distributors and pharmacy chain customers than they could resell to healthcare providers and end customers, that excess inventories of COVID-19 tests existed throughout the supply chain, that, as a result of (a)-(b), QuidelOrtho's distributors and pharmacy chain customers were poised to significantly reduce their COVID-19 test orders, that undisclosed problems created a heightened risk that the Savanna RVP4 Test would experience a delayed commercial launch in the United States, and that, as a result of (a)-(d), Defendants lacked a reasonable basis for their positive statements about QuidelOrtho's business, financials, and growth trajectory.

Those who purchased shares of QuidelOrtho Corporation (NASDAQ: QDEL) have certain options and should contact the Shareholders Foundation.

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 lawsuits, 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.