Bragar eagel & squire, p.c. announces that a class action lawsuit has
been filed against alere inc. (alr) and encourages investors to contact
the firm
New york--(business wire)--bragar eagel & squire, p.c. announces that a class action lawsuit has been filed in the united states district court for the district of massachusetts on behalf of all persons or entities who acquired alere inc. (nyse:alr) securities between may 9, 2013 and april 20, 2016 (the “class period”). the lawsuit alleges that throughout the class period, defendants made false and/or misleading statements and/or failed to disclose: (1) that alere improperly recognized and reported revenue in violation of generally accepted accounting principles; (2) that, as a result, alere’s quarterly and annual sec filings would be delayed; (3) that, as a result of the foregoing, alere’s planned merger with abbott laboratories would be thrown into doubt; (4) that alere lacked adequate internal controls over accounting and financial reporting; and (5) that, as a result of the foregoing, the alere’s financial statements, as well as defendants’ statements about alere’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. on or around march 15, 2016, alere announced that it would delay the filing of its 2015 annual report, and would need to restate the financial reports for the years 2013, 2014 and 2015 due to issues with its revenue recognition practices, and had also received a subpoena from the u.s. department of justice relating the alere’s sales practices and compliance with the u.s. foreign corrupt practices act. after these disclosures, the company’s formerly announced acquisition by abbott laboratories might be jeopardized, and alere’s shares have declined significantly in value. if you acquired alere securities during the class period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact j. brandon walker, esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. there is no cost or obligation to you. bragar eagel & squire, p.c. is a new york-based law firm concentrating in commercial and securities litigation. for additional information, please go to www.bespc.com.
ALR Ratings Summary
ALR Quant Ranking
You've reached your free article limit.
Want To Read More Articles?
See what it all means for your stocks with premium tools
Stockprices is a weekly video covering what moved markets
this week, featuring a panel of Stockprices editors. It is published by the
close of trading on Fridays. Hosted by Nathaniel E. Baker, contributing editor,
and featuring: Aaron Task, VP Contributor Content and co-host Stockprices's Alpha
Trader podcast; Brad Olesen, VP News; Steve Alpher, Managing Editor News, co-host
Alpha Trader.
Unsubscribe From All
You successfully activated
“Only Essentials”
Confirm Upgrade
Your subscription will be moved to the annual plan. Service will automatically renew unless cancelled. No Refunds. Click upgrade to confirm.
Stockprices uses Plaid to connect you account
Connect effortlessly
Plaid lets you securely connect your financial accounts in seconds
Your data belongs to you
Plaid doesn't sell personal info, and will only use it with your permission