NEW YORK, Jan. 6, 2017 /PRNewswire/ -- Faruqi & Faruqi,
LLP, a leading national securities law firm, reminds investors in
Alere Inc. ("Alere" or the "Company") (NYSE: ALR) of the
January 13, 2017 deadline to seek the
role of lead plaintiff in a federal securities class action lawsuit
filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the
Southern District of Florida on
behalf of all those who purchased Alere securities between
February 29, 2012 and November 4, 2016 (the "Class Period"). The
case, KHALID v. ALERE INC. et al, No. 0:16-cv-62687 was
filed on November 14, 2016, and has
been assigned to Judge Beth Francine
Bloom.
The lawsuit focuses on whether the Company and its executives
violated federal securities laws by making false and/or misleading
statements and/or failing to disclose that: (1) Alere's
wholly-owned subsidiary, Arriva Medical, LLC ("Arriva"), was
submitting claims to Medicare for deceased patients; (2) the
misconduct subjected Arriva to revocation of its Medicare
enrollment; and (3) as a result, the Company's statements about its
business, operations, and prospects were false and misleading
and/or lacked a reasonable basis.
Specifically, on November 4, 2016,
the Company filed its Form 10-Q with the U.S. Securities and
Exchange Commission for the quarter ended September 30, 2016. The Company disclosed within
its Form 10-Q that Arriva received notice from the Centers for
Medicare & Medicaid Services that its Medicare enrollment would
be revoked effective November 4,
2016.
On this news, Alere's share price fell from $42.23 per share on November 3, 2016 to a closing price of
$36.10 on November 4, 2016—a $6.13 or a 14.52% drop.
Request more information now by clicking here:
www.faruqilaw.com/ALR . There is no cost or obligation to
you.
Take Action
If you invested in Alere common stock or options between
February 29, 2012 and November 4, 2016 and would like to discuss your
legal rights, visit www.faruqilaw.com/ALR. You can also contact us
by calling Richard Gonnello toll
free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to
rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also
encourages anyone with information regarding Alere's conduct to
contact the firm, including whistleblowers, former employees,
shareholders and others.
The court-appointed lead plaintiff is the investor with the
largest financial interest in the relief sought by the class that
is adequate and typical of class members who directs and oversees
the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any
recovery is not affected by the decision of whether or not to serve
as a lead plaintiff.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with
respect to any future matter. We welcome the opportunity to discuss
your particular case. All communications will be treated in a
confidential manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/shareholder-alert-faruqi--faruqi-llp-encourages-investors-who-suffered-losses-in-excess-of-100000-investing-in-alere-inc-to-contact-the-firm-before-imminent-lead-plaintiff-deadline-300387159.html
SOURCE Faruqi & Faruqi, LLP