SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Embecta Corp. - EMBC
NEW YORK, Jan. 01, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Embecta Corp. (“Embecta” or the “Company”) (NASDAQ: EMBC). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Embecta and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On December 20, 2022, Embecta issued a press release announcing the Company’s Q4 and full year 2022 financial results Among other things, Embecta reported Q4 revenue of $274.6 million, down 8.7% year over year, a $58.9 million impairment charge “related to the abandonment of certain manufacturing production lines in the United States that are no longer expected to be completed,” and “a $5.5 million charge related to purchase commitments associated with the abandonment of the [production lines].”
On this news, Embecta’s stock price fell $5.08 per share, or 15.64%, to close at $27.40 per share on December 20, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980