RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Becton, Dickinson and Company ("Becton” or the "Company") (NYSE: BDX) securities during the period from November 15, 2019 February 5, 2020, inclusive (the “Class Period”).
Becton shareholders may, no later than April 27, 2020, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Becton and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
The lawsuit alleges that the Company failed to disclose that: (i) certain of Becton’s Alaris infusion pumps experienced software errors and alarm prioritization issues; (ii) as a result, the Company was investing in remediation efforts to address these product issues, rather than a software upgrade to "make enhancements;" (iii) the Company was reasonably likely to face regulatory delays in connection with the software remediation; and (iv) as a result of the foregoing, Becton was reasonably likely to recall certain of its Alaris infusion pumps.
On February 6, 2020, Becton lowered its fiscal 2020 guidance, expecting revenue to increase by only 1.5 to 2.5 percent, "to reflect the impact of the remediation effort and anticipated loss of sales of the Alaris infusion system." According to the Company, the software remediation plan for the Alaris system "will require additional regulatory filings," and existing customers would have "access to the Alaris System under medical necessity."
On this news, Becton’s share price fell $33.74, or 11.8%, to close at $252.25 per share on February 6, 2020.
If you are a member of the class, you may, no later than April 27, 2020, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.