NEW YORK, June 10, 2016 (GLOBE NEWSWIRE) -- Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a global investor rights law firm, reminds investors that June 20, 2016 is the last day to file lead plaintiff papers in the securities lawsuit against Alere Inc. (“Alere” or “Company”) (NYSE:ALR) and certain of its directors (collectively, “Defendants”). Alere investors are encouraged to go to: http://www.scott-scott.com/cases/new/securities-fraud-litigation-2855-alere-inc-alr.html. You can also contact Joseph Halloran at (646) 582-0121 or e-mail jhalloran@scott-scott.com for information.
About the Lawsuit
The complaint alleges that between May 9, 2013 and April 20, 2016, inclusive (the “Class Period”), Defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Alere improperly recognized and reported revenue in violation of Generally Accepted Accounting Principles (“GAAP”); (2) as a result, Alere’s quarterly and annual SEC filings would be delayed; (3) as a result of the foregoing, Alere’s planned merger with Abbott Laboratories would be thrown into doubt; (4) Alere lacked adequate internal controls over accounting and financial reporting; and (5) as a result of the foregoing, 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. The Company had also received a subpoena from the U.S. Department of Justice related to Alere’s sales practices and compliance with the U.S. Foreign Corrupt Practices Act.
What You Can Do
If you purchased shares of Alere stock, you may have legal claims against the Company. If you want to discuss filing lead plaintiff papers, or have questions about your legal rights, please contact attorney Joseph Halloran at (800) 404-7770 or (646) 582-0121, or at jhalloran@scott-scott.com.
About Scott + Scott, Attorneys at Law, LLP
Scott+Scott has significant experience prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm has offices in New York, London, Connecticut, California, and Ohio. Please visit www.scott-scott.com for more information about the firm.