Shareholders with losses of $100,000 or more are encouraged to contact the firm.
LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz reminds investors of the upcoming September 16, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Neogen Corporation (“Neogen” or the “Company”) (NASDAQ: NEOG) common stock between January 5, 2023 and June 3, 2025, inclusive (the “Class Period”).
IF YOU ARE AN INVESTOR WHO LOST MONEY ON NEOGEN CORPORATION (NEOG), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.
What Happened?
On January 10, 2025, Neogen disclosed that its second quarter GAAP net income was significantly negative due to a $461 million non-cash goodwill impairment charge related to its acquisition of the 3M Company (“3M”). The Company also revised its full year outlook, cutting revenue and EBITDA guidance. Further, the Company also revealed that as of November 30, 2024, it had material weaknesses in its internal control over financial reporting.
On this news, Neogen’s stock price fell $0.71, or 5.4%, to close at $12.36 per share on January 10, 2025, thereby injuring investors.
Then, on April 9, 2025, Neogen disclosed that quarterly revenue had fallen 3.4% due, in part, to integration issues. The Company also further cut its full year revenue and EBITDA outlook and revealed that its CEO would be stepping down.
On this news, Neogen’s stock price fell $2.02, or 28.7%, to close at $5.02 per share on April 9, 2025.
Then, on June 4, 2025, Neogen disclosed that, while its fourth quarter fiscal 2025 financial results would be “materially approximate [to] where [the Company] had put [its] guide,” it “would expect EBITDA margin to probably be around the high-teens” compared to the previous quarter’s 22%. The Company explained that EBITDA margins would likely “be in the low-20s, if not for the elevated inventory write-offs.”
On this news, Neogen’s stock price fell $1.04, or 17.3%, to close at $4.96 per share on June 4, 2025, thereby injuring investors further.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants 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, Defendants failed to disclose to investors that: (1) the integration with 3M was plagued with inefficiencies that Defendants knew would necessitate a goodwill impairment and would impact capital expenditures, revenues, and EBITDA margins; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Neogen common stock between January 5, 2023 and June 3, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is September 16, 2025.
Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:
Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email us at: [email protected]
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Contact Us:
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com
