Update on Lawsuit for QuidelOrtho Corporation (NASDAQ:QDEL) Investors – Shareholders Foundation, Inc.

Investors in QuidelOrtho Corporation (NASDAQ:QDEL) shares are facing a legal battle as a lawsuit unfolds over alleged securities laws violations. The lawsuit, filed by an investor in April 2024, claims that the company misled investors by making false and misleading statements about its business operations and prospects.

The plaintiff alleges that QuidelOrtho Corporation sold more COVID-19 tests to distributors and pharmacy chain customers than they could resell, leading to excess inventories and a potential reduction in test orders. Additionally, undisclosed problems could delay the commercial launch of the Savanna RVP4 Test in the United States.

In response to these allegations, two investors filed a stockholder derivative lawsuit against certain directors of QuidelOrtho Corporation for alleged breaches of fiduciary duties.

Investors who purchased shares of QuidelOrtho Corporation (NASDAQ:QDEL) and continue to hold them have options and should contact the Shareholders Foundation for more information.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service that provides research on shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal news related to the stock market.

For more information, investors can contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

Stay tuned for updates on this developing legal situation as investors seek justice and accountability in the financial market.