NEW YORK, Nov. 06, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against Merit Medical Systems, Inc. (NASDAQ: MMSI), Baxter International, Inc. (NYSE: BAX), Under Armour, Inc. (NYSE: UA, UAA), and BeiGene, Ltd. (NASDAQ: BGNE) on behalf of investors. Our investigation concerns whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Merit Medical Systems, Inc. (NASDAQ: MMSI)
On July 25, 2019, Merit announced its financial and operating results for the second quarter of 2019. The Company announced net income of $6.9 million, or $0.12 per share, compared to $10.9 million, or $0.21 per share for the same period last year. Merit’s Chairman and Chief Executive Officer, Fred P. Lampropoulos, cited “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.”
On this news, Merit’s stock price fell $13.84 per share, or 25.24%, to close at $41.00 on July 26, 2019.
For more information on our investigation into Merit Medical go to: https://bespc.com/mmsi
Baxter International, Inc. (NYSE: BAX)
On October 24, 2019, shares of Baxter fell more than 9% after the Company disclosed an internal probe into its currency trading practices. According to news reports, Baxter engaged in certain intra-Company transactions for the purpose of generating foreign exchange gains or losses which were not recorded in accordance with generally accepted accounting principles. These intra-Company transactions allegedly resulted in certain misstatements in the Company’s previously reported non-operating income related to net foreign exchange gains. This same day, the Company also reported that it has advised the Securities and Exchange Commission SEC of the internal investigation and advised investors that the Company does not expect to file its quarterly report on Form 10-Q for the period ended September 30, 2019 on a timely basis.
For more information on our investigation into Baxter go to: https://bespc.com/bax
Under Armour, Inc. (NYSE: UA, UAA)
On November 3, 2019, the Wall Street Journal reported on U.S. Justice Department and Securities and Exchange Commission investigations into Under Armour’s accounting practices and related disclosures. These investigations are focused on whether Under Armour shifted sales from quarter to quarter to appear more profitable. After several years of at least 20% year-over-year revenue growth, Under Armour missed its sales targets in the final quarter of 2016 and has been struggling with weak sales and restructuring ever since.
After these disclosures were made public, Under Armour’s stock price fell sharply on November 4, 2019, to close at $16.04 per share.
For more information on our investigation into Under Armour go to:
https://bespc.com/underarmour
BeiGene, Ltd. (NASDAQ: BGNE)
On September 5, 2019, J Capital Research (“J Capital”) published a report on BeiGene. The J Capital report asserted that BeiGene “is faking sales in order to persuade investors that it can develop a successful platform in China” and that “management may also be skimming R&D and capital budgets.”
On this news, BeiGene’s American depositary share price fell $19.95 per share, or 14.19%, to close at $120.61 per share on September 6, 2019.
For more information on our investigation into BeiGene go to: https://bespc.com/bgne
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com