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Business Wire
4 days ago
- Business
- Business Wire
NEOG INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that Neogen Corporation Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit
SAN DIEGO--(BUSINESS WIRE)--The law firm of Robbins Geller Rudman & Dowd LLP Neogen class action lawsuit. Captioned Operating Engineers Construction Industry and Miscellaneous Pension Fund v. Neogen Corporation, No. 25-cv-00802 (W.D. Mich.), the Neogen class action lawsuit charges Neogen as well as certain of Neogen's top executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Neogen class action lawsuit, please provide your information here: CASE ALLEGATIONS: Neogen, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety. According to the complaint, in December 2021, it was announced that Neogen would merge with the Food Safety Division of the 3M Company, with the deal closing in September 2022. The Neogen class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants led investors to believe that Neogen's integration with 3M was progressing much better than it actually was; and (ii) even when Neogen was forced to reveal that certain 'inefficiencies' arose as a result of the integration, defendants downplayed them and assured investors that they were fully aware and committed to resolving them quickly. The Neogen class action lawsuit further alleges that on January 10, 2025, Neogen announced its preliminary second quarter of 2025 financial results, revealing, among other things, that: (i) GAAP net income in the quarter was significantly negative due to a $461 million non-cash goodwill impairment charge related to the 3M acquisition; (ii) Neogen cut its fiscal year 2025 revenue and EBITDA guidance; and (iii) Neogen concluded that, as of November 30, 2024, Neogen had material weaknesses in its internal control over financial reporting. On this news, the price of Neogen common stock fell more than 5%, according to the complaint. Then, on April 9, 2025, the Neogen class action lawsuit alleges that Neogen announced its third quarter of 2025 financial results, reporting a loss of $11 million, or $0.05 per share, compared with a loss of $2 million, or $0.01 per share, a year earlier. Neogen further announced that revenue fell 3.4% to $221 million which had been negatively impacted by integration issues, Neogen was cutting its fiscal year 2025 revenue and EBITDA outlook, capital expenditures were expected to be $100 million as a result of lowered adjusted EBITDA and a 'pull-forward of . . . integration capex into fiscal 2025,' and that CEO, defendant John Adent, would be stepping down. On this news, the price of Neogen common stock fell 28%, according to the complaint. 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%, blaming the expected shortfall on 'elevated . . . inventory write-offs,' according to the complaint. The Neogen class action lawsuit alleges that on this news, the price of Neogen common stock fell more than 17%. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Neogen common stock during the Class Period to seek appointment as lead plaintiff in the Neogen class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Neogen class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Neogen class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Neogen class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
Business Wire
21-07-2025
- Business
- Business Wire
NEOG INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that Neogen Corporation Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
SAN DIEGO--(BUSINESS WIRE)--The law firm of Robbins Geller Rudman & Dowd LLP Neogen class action lawsuit. Captioned Operating Engineers Construction Industry and Miscellaneous Pension Fund v. Neogen Corporation, No. 25-cv-00802 (W.D. Mich.), the Neogen class action lawsuit charges Neogen and certain of Neogen's top executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Neogen class action lawsuit, please provide your information here: CASE ALLEGATIONS: Neogen, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety. According to the complaint, in December 2021, it was announced that Neogen would merge with the Food Safety Division of the 3M Company, with the deal closing in September 2022. The Neogen class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants led investors to believe that Neogen's integration with 3M was progressing much better than it actually was; and (ii) even when Neogen was forced to reveal that certain 'inefficiencies' arose as a result of the integration, defendants downplayed them and assured investors that they were fully aware and committed to resolving them quickly. The Neogen class action lawsuit further alleges that on January 10, 2025, Neogen announced its preliminary second quarter of 2025 financial results, revealing, among other things, that: (i) GAAP net income in the quarter was significantly negative due to a $461 million non-cash goodwill impairment charge related to the 3M acquisition; (ii) Neogen cut its fiscal year 2025 revenue and EBITDA guidance; and (iii) Neogen concluded that, as of November 30, 2024, Neogen had material weaknesses in its internal control over financial reporting. On this news, the price of Neogen common stock fell more than 5%, according to the complaint. Then, on April 9, 2025, the Neogen class action lawsuit alleges that Neogen announced its third quarter of 2025 financial results, reporting a loss of $11 million, or $0.05 per share, compared with a loss of $2 million, or $0.01 per share, a year earlier. Neogen further announced that revenue fell 3.4% to $221 million which had been negatively impacted by integration issues, Neogen was cutting its fiscal year 2025 revenue and EBITDA outlook, capital expenditures were expected to be $100 million as a result of lowered adjusted EBITDA and a 'pull-forward of . . . integration capex into fiscal 2025,' and that CEO, defendant John Adent, would be stepping down. On this news, the price of Neogen common stock fell 28%, according to the complaint. 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%, blaming the expected shortfall on 'elevated . . . inventory write-offs,' according to the complaint. The Neogen class action lawsuit alleges that on this news, the price of Neogen common stock fell more than 17%. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Neogen common stock during the Class Period to seek appointment as lead plaintiff in the Neogen class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Neogen class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Neogen class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Neogen class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
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
