The Newsroom

Investigations  /  12.05.2019

Merit Medical Systems

You Have Legal Options

Merit Medical Systems, Inc. (MMSI) Accused of Misleading Shareholders

According to the complaint for alleged violations of the Securities Exchange Act of 1934 between February 26, 2019 and October 30, 2019, in 2018, Merit Medical Systems, Inc. acquired Becton, Dickinson and Company, Cianna Medical, Inc., and Vascular Insights, LLC for a total of $360 million. In February 2019, Merit touted fourth quarter 2018 and fiscal year 2018 results with revenue growth of 8-10% and forecasted net sales of $1.011 billion to $1.030 billion for fiscal year 2019 (“FY19”). Merit also assured it was successfully integrating its acquired companies, its product pipeline was full, and expenses were being kept under tight control. In April 2019, Merit reported first quarter 2019 results that had “met and exceeded [its] expectations” and reaffirmed its FY19 guidance. However, in July 2019, Merit’s second quarter 2019 financial results fell short of analyst expectations and the Company cut its FY19 sales outlook to $1.007-1.029 billion, citing “slower than expected uptake of acquired products” that were “short term” issues. Then, on October 30, 2019, Merit reported third quarter 2019 results, slashing its FY19 revenue guidance by 20% and reporting significant operational issues in all aspects of its business, many of which were due to defendants’ “own overestimation and forecasting.” Following these disclosures, Merit’s stock declined a staggering 62% to close at $20.66 per share.

  • If you would like more information about your rights and potential remedies please send us a message. 

  • Please Note: Neither the submission to nor the receipt of information by Robbins LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.

How can we help you?

CONTACT US TODAY | 1 800 350 6003 or [email protected]

Tell us your concerns