SAN DIEGO, April 17, 2024 (GLOBE NEWSWIRE) -- Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired QuidelOrtho Corporation f/k/a Quidel Corporation (NASDAQ:QDEL) common stock between February 18, 2022 and April 1, 2024. QuidelOrtho provides tests for the detection and diagnosis of various respiratory diseases and other medical conditions.
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The Allegations: Robbins LLP is Investigating the Allegations that QuidelOrtho Corporation (QDEL) Misled Investors Regarding Demand for its Product
According to the complaint, defendants assured investors that QuidelOrtho was well positioned to maintain a stable high margin revenue stream from its respiratory business. Among other strategies, the Company aimed to launch its "next flagship product," a new test called the Savanna Respiratory Viral Panel-4 (the "Savanna RVP4 Test," which tests for COVID-19 and other respiratory conditions) by utilizing its commercial distribution network.
However, plaintiff alleges that, during the class period, ...