WILMINGTON, Del., April 26, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Alere Inc. (NYSE:ALR)?
- Did you purchase your shares between May 9, 2013 and April 20, 2016, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities that purchased the common stock of Alere Inc. (“Alere” or the “Company”) (NYSE:ALR) between May 9, 2013 and April 20, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Alere during the Class Period, or purchased shares prior to the Class Period and still hold Alere, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://rigrodskylong.com/investigations/alere-inc-alr-lawsuit.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on February 1, 2016, the Company disclosed that it had entered into a merger agreement with Abbot Laboratories (“Abbott”). Later, on March 11, 2016, the Company received a grand jury subpoena from the United States Department of Justice “requiring the production of documents relating to, among other things, sales, sales practices and dealings with third-parties (including distributors and foreign governmental officials) in Africa, Asia and Latin America and other matters related to the U.S. Foreign Corrupt Practices Act.”
Then, on April 20, 2016, the CEO of Abbott, during its quarterly earnings conference call, would not affirm Abbott Laboratories’ commitment to merge with Alere.
On this news, shares of Alere dropped over 12%, closing at $43.36 per share on April 20, 2016, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than June 20, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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