INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Becton, Dickinson & Com...
February 28 2020 - 8:00PM
Business Wire
The law firm of Kirby McInerney LLP announces that a class
action lawsuit has been filed in the U.S. District Court for the
District of New Jersey on behalf of those who acquired Becton,
Dickinson and Company (“Becton” or the “Company”) (NYSE: BDX)
securities during the period from November 5, 2019 through February
5, 2020. Investors have until April 27, 2020 to apply to the Court
to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that the Company failed to disclose that:
(i) certain of Becton’s Alaris infusion pumps experienced software
errors and alarm prioritization issues; (ii) as a result, the
Company was investing in remediation efforts to address these
product issues, rather than a software upgrade to “make
enhancements;” (iii) the Company was reasonably likely to face
regulatory delays in connection with the software remediation; and
(iv) as a result of the foregoing, Becton was reasonably likely to
recall certain of its Alaris infusion pumps.
On February 6, 2020, Becton lowered its fiscal 2020 guidance,
expecting 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.”
On this news, Becton’s share price fell $33.74, or 11.8%, to
close at $252.25 per share on February 6, 2020.
If you acquired Becton securities, have information, or would
like to learn more about these claims, please contact Thomas W.
Elrod of Kirby McInerney LLP at 212-371-6600, by email at
investigations@kmllp.com, or by filling out this contact form, to
discuss your rights or interests with respect to these matters
without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney LLP’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20200228005589/en/
Kirby McInerney LLP Thomas W. Elrod, Esq. (212) 371-6600
investigations@kmllp.com www.kmllp.com
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