BENSALEM, Pa.–(BUSINESS WIRE)–$MMSI–Law Offices of Howard G. Smith 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.
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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
