Kaskela Law is investigating QuidelOrtho Corporation (Nasdaq: QDEL) (“QuidelOrtho”) on behalf of the company’s long-term investors.
Recently a securities fraud complaint was filed against QuidelOrtho on behalf of certain investors who purchased shares of the company’s stock between February 17, 2022 and April 1, 2024 (the “Wrongdoing Period”). According to the complaint, during the Wrongdoing Period, the defendants made a series of materially false and misleading statements to investors concerning QuidelOrtho’s business, operations, and prospects.
As further detailed in the complaint, on February 13, 2024, QuidelOrtho issued a press release reporting disappointing quarterly financial results, and “slashed” its 2024 financial forecasts, including a dramatic cut to its COVID-19 revenue forecast. On this news, shares of the company’s stock fell $21.50 per share, or 32% in value, to close on February 14, 2024 at $45.27 per share, on unusually heavy trading volume.
The investigation seeks to determine whether the members of QuidelOrtho’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.
Current QuidelOrtho shareholders who purchased or acquired their QDEL shares prior to February 13, 2024 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) for additional information about this investigation and their legal rights and options at (484) 229 – 0750, or by completing the form on this page.