On February 27, 2020, a class action lawsuit was filed on behalf of purchasers of Becton, Dickinson and Company (NYSE: BDX) (“Becton” or the “Company”) securities between November 5, 2019 and February 5, 2020 (the "Class Period"). The class also includes those who purchased Becton Dickinson and Company Depositary Shares Each Representing 1/20th of a share of 6.125% Series A Mandatory Convertible Preferred Stock (NYSE: BDXA) and stock options.
According to the complaint, Becton purports to be a medical technology company that develops, manufactures, and sells a broad range of medical supplies, devices, laboratory equipment and diagnostic products. It has three business segments: BD Medical; BD Life Sciences, and BD Interventional. The Company’s Alaris pump is a large volume infusion pump that continuously or intermittently delivers fluids, medications, blood and blood products to adult, pediatric or neonatal patients.
The complaint further alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) certain of Becton’s Alaris infusion pumps experienced software errors and alarm prioritization issues; (2) as a result, the Company was investing in remediation efforts to address these product issues, rather than a software upgrade to “make enhancements”; (3) the Company was reasonably likely to face regulatory delays in connection with the software remediation; (4) as a result of the foregoing, Becton was reasonably likely to recall certain of its Alaris infusion pumps; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
On April 27, 2020, KTMC filed a motion with the Court to lead the Becton securities fraud class action litigation.
Becton investors may receive additional information about the case by clicking the link "Submit Your Information" above and fill out the form as promptly as possible.
If you wish to discuss this action or have any questions concerning your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-844-887-9500 or 1-610-667-7706, or via e-mail at info@ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-844-887-9500 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com