NEW YORK, Feb. 28, 2020 /PRNewswire/ -- Bernstein
Liebhard, a nationally acclaimed investor rights law firm,
announces that a securities class action has been filed on behalf
of investors that purchased or acquired the securities of Becton,
Dickinson and Company ("Becton" or the "Company") (NYSE: BDX)
between November 5, 2019, and
February 5, 2020 (the "Class
Period"). The lawsuit filed in the United
States District Court for the District of New
Jersey alleges violations of the Securities Exchange Act of
1934.
If you purchased Becton securities, and/or would like to
discuss your legal rights and options please visit Becton
Shareholder Class Action or contact Matthew
E. Guarnero toll free at (877) 779-1414 or
MGuarnero@bernlieb.com.
The Complaint alleges that throughout the Class Period,
Defendants made materially false and/or misleading statements, as
well as failed to disclose material adverse facts about the
Company's business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) that certain of
Becton's Alaris infusion pumps experienced software errors and
alarm prioritization issues; (2) that, as a result, the Company was
investing in remediation efforts to address these product issues,
rather than a software upgrade to "make enhancements;" (3) that the
Company was reasonably likely to face regulatory delays in
connection with the software remediation; (4) that, as a result of
the foregoing, Becton was reasonably likely to recall certain of
its Alaris infusion pumps; and (5) that, as a result of the
foregoing, Defendants' positive statements about the Company's
business, operations, and prospects were materially false and/or
misleading and/or lacked a reasonable basis.
On February 6, 2020, Becton
lowered its fiscal 2020 guidance, announcing that it expected
revenue to increase by only 1.5 to 2.5 percent, "to reflect the
impact of the remediation effort and anticipated loss of sales of
the Alaris infusion system." According to the Company, the software
remediation plan for the Alaris system "will require additional
regulatory filings," and existing customers would have "access to
the Alaris System under medical necessity." Becton further
disclosed that it had recorded a $59
million charge in connection with a voluntary recall of
certain Alaris pumps.
On this news, Becton's share price fell $33.74, or nearly 12%, to close at $252.25 per share on February 6, 2020, on unusually heavy trading
volume.
If you purchased BDX securities, and/or would like to discuss
your legal rights and options please visit
https://www.bernlieb.com/cases/bectondickinsonandcompany-bdx-shareholder-class-action-lawsuit-stock-fraud-257/apply or
contact Matthew E. Guarnero toll
free at (877) 779-1414 or MGuarnero@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court
no later than April 27, 2020. 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 doesn't require that you serve as lead plaintiff. If you
choose to take no action, you may remain an absent class
member.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National
Law Journal's "Plaintiffs' Hot List" thirteen times and
listed in The Legal 500 for ten consecutive
years.
ATTORNEY ADVERTISING. © 2020 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. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
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