QuidelOrtho: Company Investigated by the Portnoy Law Firm
Investors can contact the law firm at no cost to learn more about recovering their lossesLOS ANGELES, Feb. 21, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises QuidelOrtho Corporation ("QuidelOrtho" or the "Company") (NASDAQ: QDEL) investors that the firm has initiated an investigation into possible securities violations and may file a class action on behalf of investors. QuidelOrtho investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Portnoy Law Firm is investigating potential securities law violations by QuidelOrtho in connection with its recently reported fourth quarter and full-year 2023 financial results. The focus of the investigation would be on the significant decrease in QuidelOrtho's GAAP net income for Q4 2023, which fell to $7 million with diluted earnings per share (EPS) of $0.10, down from $30.3 million and $0.45 EPS in the same period of the previous year. The investigation would also examine why the company's revenue for the quarter, which was $742.6 million, missed forecasts by $44.86 million. Furthermore, the sharp over 38% decline in QuidelOrtho's stock price in premarket trading on February 14, 2024, following these announcements, would be scrutinized, along with the Board of Directors' termination of Douglas Bryant, the President and CEO, on February 21, 2024. The aim would be to ascertain if the company and its leadership failed to disclose critical information or made misleading statements regarding the company's financial status and outlook.
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The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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