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Thu. Jul 18th, 2024

QUIDELORTHO CORPORATION (NASDAQ: QDEL) FINAL DEADLINE

By Vaseline Jun10,2024

NEW YORK, June 10, 2024 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP:

  • Do you own shares of QuidelOrtho Corporation f/k/a Quidel Corporation (NASDAQ: QDEL)?
  • Did you buy your shares between February 18, 2022 and April 1, 2024?
  • Did you lose money on your investment in QuidelOrtho Corporation?
  • Would you like to discuss your rights?

Bernstein Liebhard LLP, a nationally renowned investor rights law firm, reminds investors of the deadline for filing a lead plaintiff motion in a securities class action lawsuit filed on behalf of investors who purchased or purchased the common stock of QuidelOrtho Corporation f/k acquired. /a Quidel Corporation (“QuidelOrtho” or the “Company”) (NASDAQ: QDEL) between February 18, 2022 and April 1, 2024, including (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of New York and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

like you purchased or acquired QuidelOrtho common shares and/or would like to discuss your legal rights and options Visit the QuidelOrtho Corporation Shareholder Class Action Lawsuit or contact the Investor Relations Manager Peter Allocco at (212) 951-2030 or [email protected].

If you wish to serve as lead plaintiff, you must move the Court no later than this June 11, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery does not require you to serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

According to the complaint, Defendants failed to disclose to investors that: (a) QuidelOrtho sold more COVID-19 tests to its distributors and pharmacy chain customers than they could resell to healthcare providers and end customers; (b) there were excess supplies of COVID-19 tests throughout the supply chain; (c) as a result, QuidelOrtho’s pharmacy chain distributors and customers were about to significantly reduce their orders for COVID-19 tests; and (d) undisclosed issues created an increased risk that the Savanna RVP4 Test would experience a delayed commercial launch in the United States.

On April 2, 2024, QuidelOrtho announced that it had withdrawn its FDA 510(k) application for approval for the sale of the Savanna RVP4 test in the United States after recent data fell short of expectations. According to Citi analyst Patrick Donnelly, the Savanna RVP4 test was expected to be “a key driver of Savanna uptake in the respiratory season.”

On this news, QuidelOrtho’s stock price fell by $4.85 per share, or more than 10%, to close at $42.15 per share on April 2, 2024.

like you purchased or acquired QuidelOrtho common shares and/or would like to discuss your legal rights and options Visit the QuidelOrtho Corporation Shareholder Class Action Lawsuit or contact the Investor Relations Manager Peter Allocco at (212) 951-2030 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered more than $3.5 billion for its clients. In addition to representing individual investors, the firm has been retained by some of the nation’s largest public and private pension funds to monitor their assets and file lawsuits on their behalf. As a result of its success in litigating hundreds of lawsuits and class actions, the firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and has been named to The Legal 500 for sixteen years in a row.

LAWYER ADVERTISING. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Past results do not guarantee or predict a similar outcome with respect to future issues.

Contact details:

Peter Allocco
Investor Relations Manager
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
[email protected]

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