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LOS ANGELES, Sept. 18, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Merit Medical Systems, Inc. (“Merit Medical” or “the Company”) (NASDAQ: MMSI) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Merit Medical released its financial and operating results for the second quarter of 2019 on July 25, 2019. The Company reported net income of $0.12 per share compared to $0.21 per share for the same period in 2018. Chairman and Chief Executive Officer Fred P. Lampropoulos admitted, “a number of factors affecting revenues and gross margins during the second quarter,” including “foreign exchange [and] slower than anticipated conversion and uptake of acquired products.” Based on this news, shares of Merit Medical fell by more than 25% on July 26, 2019.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm
Brian Schall, Esq.