Latest news with #DavidNaemura
Business Wire
18-07-2025
- Business
- Business Wire
Grant & Eisenhofer Files Class Action Lawsuit Against Neogen Corporation
NEW YORK--(BUSINESS WIRE)--Today, Grant & Eisenhofer P.A. filed a class action lawsuit on behalf of Operating Engineers Construction Industry and Miscellaneous Pension Fund against Neogen Corporation ('Neogen' or the 'Company'), Neogen's CEO John Adent, and Neogen's COO & CFO David Naemura (collectively, the 'Defendants'). The action alleges that Defendants defrauded investors by making materially false and/or misleading statements and failing to disclose materially adverse facts about the Company's acquisition and subsequent integration of the Food Safety Division of 3M Corporation ('3M'). The action is brought on behalf of all persons or entities who purchased or acquired Neogen common stock from January 5, 2023 through June 3, 2025, inclusive (the 'Class Period'). The action, brought in the United States District Court for the Western District of Michigan, is captioned Operating Eng'rs Constr. Indus. & Misc. Pension Fund v. Neogen Corp., et al., No. 1:25-cv-00802 (W.D. Mich.). Neogen is a food safety company that manufactures and markets products and services dedicated to food and animal safety. The Company's products include diagnostic test kits and other products to test for dangerous substances in human and animal food. Neogen also develops and supplies pharmaceuticals and medical instruments in the veterinary market. The complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Specifically, the lawsuit alleges that throughout the Class Period, Defendants misrepresented the status of the 3M integration and failed to disclose the negative impact of integration issues on the financial health of Neogen. Defendants issued a series of materially false and misleading statements which led investors to believe that the integration was progressing smoothly. Defendants downplayed integration 'inefficiencies' and assured investors that they were fully aware and committed to resolving the issues quickly. Investors slowly learned the truth through a series of disclosures beginning on January 10, 2025. That day, the Company revealed that GAAP net income in the second quarter was significantly negative due to a $461 million non-cash goodwill impairment charge related to the 3M acquisition and cut its FY25 revenue and EBITDA guidance. Neogen also revealed that, as of November 30, 2024, the Company had material weaknesses in its internal control over financial reporting. On this news, the price of the Company's common stock declined 5% to close at $12.36 per share. In its next financial quarter, on April 9, 2025, Neogen announced that quarterly revenue fell 3.4% to $221 million due to integration issues and again cut its FY25 guidance and noted that capital expenditures were expected to be $100 million as a result of lowered adjusted EBITDA and a pull-forward of integration-related capital expenditures into FY25. Neogen also announced that CEO Adent would be stepping down. On this news, the price of the Company's common stock plummeted 28% to close at $5.02 per share, on a volume spike of 47 million shares. Finally, on June 4, 2025, Neogen revealed that it expected 'EBITDA margin to probably be around the high-teens' which represented a considerable drop from the previous quarter's profit margin of 22%. On this news, the price of the Company's common stock fell an additional 17%, to close at $4.96 per share. Investors who purchased or acquired Neogen common stock during the Class Period are members of this proposed Class and may be able to seek appointment as lead plaintiff, which is a court-appointed representative of the Class, by complying with the relevant provisions of the Private Securities Litigation Reform Act of 1995 (the 'PSLRA'). See 15 U.S.C. Section 78u-4(a)(2)(A)(i)-(iv). If you wish to serve as lead plaintiff, you must move the Court by no later than September 16, 2025. You do not need to seek to become a lead plaintiff in order to share in any possible recovery. You may also retain counsel of your choice to represent you in this action. If you wish to discuss this action or have any questions concerning this notice or your rights, please contact Karin E. Fisch at Grant & Eisenhofer at 646-722-8500, or via email at kfisch@ You can also find more information at
Business Wire
21-05-2025
- Business
- Business Wire
Neogen® to Participate in the 45th Annual William Blair Growth Stock Conference
LANSING, Mich.--(BUSINESS WIRE)--Neogen® Corporation (NASDAQ: NEOG), an innovative leader in food safety solutions, announced today that the Company will participate in the 45th Annual William Blair Growth Stock Conference in Chicago, Illinois, on Wednesday, June 4, 2025. David Naemura, Neogen's Chief Financial Officer and Chief Operating Officer, will present at 8:40 a.m. Central Time. To access the event webcast link, please visit the Events & Presentations section at About Neogen Neogen Corporation is committed to fueling a brighter future for global food security through the advancement of human and animal well-being. Harnessing the power of science and technology, Neogen has developed comprehensive solutions spanning the Food Safety, Livestock, and Pet Health & Wellness markets. A world leader in these fields, Neogen has a presence in over 140 countries with a dedicated network of scientists and technical experts focused on delivering optimized products and technology for its customers.
Yahoo
23-04-2025
- Business
- Yahoo
Is Neogen Corporation (NEOG) The Top Falling Stock with Unusual Volume?
We recently published a list of . In this article, we are going to take a look at where Neogen Corporation (NASDAQ:NEOG) stands against other top falling stocks with unusual volume. Uncertainty around tariffs and macroeconomic conditions has dented investor confidence, resulting in stock prices falling. While some stocks have come under pressure due to the above two reasons, others have simply followed the market direction or have dipped for company-specific reasons. Regardless of the reasons for stocks going down, falling stocks provide an opportunity for fresh investors to get in at good prices. Once the risks subside, these stocks usually recover quickly as well. We decided to uncover these stocks and see if it makes sense to put money in them to take advantage of the ongoing market turmoil. To come up with our list of top 20 stocks falling with unusual volume, we looked at stocks over $300 million in market cap, their one-week performance, and used relative volume to detect the unusual volume activity. Relative volume compares the daily volume to the three-month average trading volume of the stock, making it easy to detect spikes in volume. These spikes usually signal something important is happening, which, when combined with falling prices, becomes a red flag that investors can't ignore. A research laboratory showing advanced diagnostic equipment used to protect public health. Neogen Corporation (NASDAQ:NEOG) is the manufacturer, developer, and marketer of different products and services focused on animal and food safety. The company operates in the Animal Safety and Food Safety segments. The stock is down 22.02% in a week on a relative volume of 2.69. Neogen missed both revenue and Non-GAAP EPS estimates in Q3. Revenue declined by 3.4% YoY while non-GAAP EPS missed by $0.02. The company lowered its Q4 2025 guidance due to the lower-than-expected third quarter results. As per the updated revenue guidance, the firm now projects Q4 revenue to be approximately $895 million. Expected capital expenditures are $100 million with adjusted EBITDA of about $195 million. At the start of this month, Neogen Corporation (NASDAQ:NEOG) announced the successful refinancing of its debt. As per the new agreement, a $250 million revolving credit facility and a $450 million term loan have a maturity date of August 2027. With the help of this new deal, the maturity date has been extended by over two and a half years. CFO and COO of Neogen Corporation (NASDAQ:NEOG), David Naemura, said: 'The new term loan and revolving credit facility provide us with additional balance sheet flexibility, and we appreciate the support of our entire bank group throughout the process.' Overall, NEOG ranks 3rd on our list of top falling stocks with unusual volume. While we acknowledge the potential of NEOG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than NEOG but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at . Sign in to access your portfolio
