NEW YORK, April 08, 2020 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, announces the filing of a class action lawsuit against Becton, Dickinson and Company (“Becton” or the “Company”) (NYSE:BDX) and certain of its officers and directors alleging violations of federal securities laws. If you purchased Becton securities between November 5, 2019 and February 5, 2020, inclusive (the “Class Period”), you are encouraged to contact Scott+Scott attorney Jonathan Zimmerman for additional information at (888) 398-9312 or jzimmerman@scott-scott.com.
The Complaint alleges that Becton 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, the Company failed to disclose: (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; and (4) that, as a result of the foregoing, Becton was reasonably likely to recall certain of its Alaris infusion pumps..
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, the price of Becton shares fell $33.74, or nearly 11.8%, to close at $252.25 per share on February 6, 2020.
What You Can Do
If you purchased Becton securities between November 5, 2019 and February 5, 2020, inclusive, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Jonathan Zimmerman at (888) 398-9312 or jzimmerman@scott-scott.com. The lead plaintiff deadline is April 27, 2020.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
Attorney Advertising
CONTACT:
Jonathan Zimmerman
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 17th Floor, New York, NY 10169-1820
(888) 398-9312
jzimmerman@scott-scott.com