LOS ANGELES–(BUSINESS WIRE)–$EMBC #EMBC—The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Embecta Corp. (“Embecta” or “the Company”) (NASDAQ: EMBC) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Embecta issued a press release on December 20, 2022, announcing its fourth quarter and full year 2022 financial results. The Company reported quarterly revenue down 8.7% year-over-year, and a $58.9 million impairment charge “related to the abandonment of certain U.S. manufacturing lines that are no longer expected to be completed.” The Company also disclosed a charge of “550 million in impairment charges related to the abandonment of the purchase commitment of [the production line].” Based on this news, shares of Embecta fell by 15.64% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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