April 18, 2022. The Court approved Merit Medical’s $18.25 million payment to end a securities class action lawsuit that was brought against the company in the Central District of California. Plaintiffs alleged that Merit Medical misled investors about the company’s business and prospects; specifically, Merit Medical’s integration of two acquisitions was disastrous and the company’s financial guidance for fiscal 2019 and 2020 was made without a reasonable basis. Plaintiffs retained Crowninshield Financial Research to consult on the computation of damages.
Additional information is available at GlobeNewswire and Bernstein Litowitz Berger & Grossmann LLP.
