Press release
Investigation announced for Investors in shares of Stevanato Group S.p.A. (NYSE: STVN) over possible Violations of Securities Laws
An investigation for investors in Stevanato Group S.p.A. (NYSE: STVN) shares over potential securities laws violations.
Investors who purchased shares of Stevanato Group S.p.A. (NYSE: STVN), 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 focuses on possible claims on behalf of purchasers of the securities of Stevanato Group S.p.A. (NYSE: STVN) concerning whether a series of statements by Stevanato Group S.p.A. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Italy based Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for bio-pharma and healthcare industries in Europe, the Middle East, Africa, North America, South America, and the Asia Pacific. Stevanato Group S.p.A. reported that its annual Total Revenue rose from 983.68 million EUR in 2022 to over 1.08 billion EUR in 2023, and that its Net Income increased from 142.84 million EUR in 2022 to 145.63 million EUR in 2023.
On May 9, 2024, Stevanato Group S.p.A. announced 1Q24 financial results that were below expectations and included a significant earnings miss for the quarter. The Company blamed the miss on higher than anticipated "industry-wide vial destocking" with no expected improvement in vial demand and lowered its guidance for fiscal year 2024. Analysts commenting on the lowered guidance mention "a mismatch of management visibility and the expectations" set by the Company relative to the reality of the market.
Shares of Stevanato Group S.p.A. (NYSE: STVN) declined from $36.30 per share on August 09, 2023, to as low as $16.56 per share on June 25, 2024.
Those who purchased shares of Stevanato Group S.p.A. (NYSE: STVN) 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.
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