BENSALEM, PA / ACCESSWIRE / March 20, 2020 / Law Offices of Howard G. Smith reminds investors of the upcoming April 27, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Becton, Dickinson, and Company ("Becton" or the "Company") (NYSE:BDX) securities between November 5, 2019 and February 5, 2020, inclusive (the "Class Period").
Investors suffering losses on their Becton investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
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.
The complaint filed in this class action 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.
If you purchased Becton securities during the Class Period, you may move the Court no later than April 27, 2020 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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CONTACT:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
SOURCE: Law Offices of Howard G. Smith