NEW YORK, NY / ACCESSWIRE / December 21, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Merit Medical Systems, Inc. ("Merit" or the "Company") (NASDAQ:MMSI). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether 8x8 and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 25, 2019, post-market, Merit announced its financial and operating results for the second quarter of 2019. The Company announced 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 Chairman and Chief Executive Officer, Fred P. Lampropoulos, 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, Merit's stock price fell $13.84 per share, or 25.24%, to close at $41.00 on July 26, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
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