Case Page

 

Case Status:    ONGOING    
On or around 08/23/2017 (Ongoing date of last review)

Filing Date: April 21, 2016

According to the law firm press release, the complaint filed in this lawsuit alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company improperly recognized and reported revenue in violation of Generally Accepted Accounting Principles (“GAAP”); (2) that, as a result, the Company’s quarterly and annual SEC filings would be delayed; (3) that, as a result of the foregoing, the Company’s planned merger with Abbott Laboratories would be thrown into doubt; (4) that the Company lacked adequate internal controls over accounting and financial reporting; and (5) that, as a result of the foregoing, the Company’s financial statements, as well as Defendants’ statements about Alere’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. On or around March 15, 2016, the Company announced that it would delay the filing of its 2015 Annual Report, and would need to restate the financial reports for the years 2013, 2014 and 2015 due to issues with its revenue recognition practices, and had also received a subpoena from the U.S. Department of Justice relating the Company’s sales practices and compliance with the U.S. Foreign Corrupt Practices Act. After these disclosures, the Company’s formerly announced acquisition by Abbott Laboratories might be jeopardized, and the Company’s shares have declined significantly in value.

A consolidated complaint was filed on September 23, 2016.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ALR
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Massachusetts
DOCKET #: 16-CV-10766
JUDGE: Hon. Patti B. Saris
DATE FILED: 04/21/2016
CLASS PERIOD START: 05/09/2013
CLASS PERIOD END: 04/20/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Block & Leviton LLP
    155 Federal Street, Suite 1303, Block & Leviton LLP, MA 02110
    (617) 398-5600 (617) 507-6020 ·
  2. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
No Document Title Filing Date
COURT: D. Massachusetts
DOCKET #: 16-CV-10766
JUDGE: Hon. Patti B. Saris
DATE FILED: 09/23/2016
CLASS PERIOD START: 05/28/2015
CLASS PERIOD END: 07/27/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abraham, Fruchter & Twersky LLP
    One Penn Plaza, Suite 2805, Abraham, Fruchter & Twersky LLP, NY 10119
    (212) 279-5050 (212) 279-3655 ·
  2. Bernstein Litowitz Berger & Grossmann LLP (New York, NY)
    1285 Avenue of the Americas, 33rd Floor, Bernstein Litowitz Berger & Grossmann LLP (New York, NY), NY 10019
    212.554.1400 212.554.1444 · blbg@blbglaw.com
  3. Entwistle & Cappucci LLP
    299 Park Avenue, 14th Floor, Entwistle & Cappucci LLP, NY 10171
    212.894.7200 212.894.7272 · info@entwistle-law.com
  4. Shapiro Haber & Urmy LLP (Boston)
    53 State Street, Shapiro Haber & Urmy LLP (Boston), MA 02109
    617.439.3939 617.439.0134 · info@shulaw.com
No Document Title Filing Date