The Law Offices of Frank R. Cruz Announces Investigation on Behalf of Merit Medical Systems, Inc. Investors (MMSI)
January 13 2020 - 8:32PM
Business Wire
The Law Offices of Frank R. Cruz announces an investigation on
behalf of Merit Medical Systems, Inc. (“Merit” or the “Company”)
(NASDAQ: MMSI) investors concerning the Company and its officers’
possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to
participate.
On July 25, 2019, post-market, the Company announced
disappointing financial results for second quarter 2019, reporting
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’s Chief Executive Officer 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 this news, the Company’s stock price fell $13.84, or over
25%, to close at $41.00 on July 26, 2019, thereby injuring
investors.
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.
On this news, the Company’s stock price fell as much as $9.14,
or over 31%, during intraday trading on October 31, 2019, thereby
injuring investors further.
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If you purchased Merit securities, have information or would
like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Frank R. Cruz, of The Law
Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los
Angeles, California 90067 at 310-914-5007, by email to
info@frankcruzlaw.com, or visit our website at
www.frankcruzlaw.com. If you inquire by email please include your
mailing address, telephone number, and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20200113005970/en/
The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz,
310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com
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