Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of New Jersey on behalf of shareholders of Becton, Dickinson and Company who purchased shares between November 5, 2019 and February 5, 2020.
Becton and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 6, 2020, the Company disclosed a cut to its fiscal 2020 guidance with revenue expected to increase by only 1.5% to 2.5% “to reflect the impact of the remediation effort and anticipated loss of sales of the Alaris infusion system”; that the software remediation plan for the Alaris system “will require additional regulatory filings”; that existing customers would have “access to the Alaris System under medical necessity”; and 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’s shares plummeted.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until April 27, 2020 to request that the court appoint them lead plaintiff.