NEW YORK, Oct. 5, 2016 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, is
investigating potential securities fraud at Trinity Biotech plc
("Trinity" or the "Company") (NasdaqGS:TRIB).
The investigation focuses on whether the Company and its
executives violated federal securities laws by potentially
misrepresenting the likelihood of the marketing applications of its
point-of-care testing devices to be accepted by the Food and Drug
Administration ("FDA").
Specifically, on October 4, 2016,
the Company announced that it would withdraw its 510(k) premarket
notification submission for the Meritas Troponin-I Test and Meritas
Point-of-Care Analyzer on the advice of the FDA. The Company also
announced that it would close down its Swedish facility,
eliminating 40 jobs and generating $50
million in redundancy and closure costs, and that it would
reduce expenditure levels from $9 million to
$1.5 million per annum.
After this announcement, Trinity's share price fell from
$12.99 per share on October 3, 2016 to a closing price of
$6.46 on October 4, 2016—a $6.53 or a 50.3% drop.
Request more information now by clicking
here: www.faruqilaw.com/TRIB. There is no cost or obligation
to you.
Take Action
If you invested in Trinity stock or options and would like to
discuss your legal rights, visit www.faruqilaw.com/TRIB. You
can also contact us by calling Richard
Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com. Faruqi &
Faruqi, LLP also encourages anyone with information regarding
Trinity's conduct to contact the firm, including whistleblowers,
former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
We welcome the opportunity to discuss your particular case.
All communications will be treated in a confidential
manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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