Bragar Eagel & Squire, P.C. Reminds Investors of Class Actions Against Neogen, Alto, RxSight, and Replimune and Encourages Investors to Contact the Firm
Neogen Corporation (NASDAQ:NEOG)
The complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Specifically, the lawsuit alleges that throughout the Class Period, Defendants misrepresented the status of the 3M integration and failed to disclose the negative impact of integration issues on the financial health of Neogen. Defendants issued a series of materially false and misleading statements which led investors to believe that the integration was progressing smoothly. Defendants downplayed integration 'inefficiencies' and assured investors that they were fully aware and committed to resolving the issues quickly.
Investors slowly learned the truth through a series of disclosures beginning on January 10, 2025. That day, the Company revealed that GAAP net income in the second quarter was significantly negative due to a $461 million non-cash goodwill impairment charge related to the 3M acquisition and cut its FY25 revenue and EBITDA guidance. Neogen also revealed that, as of November 30, 2024, the Company had material weaknesses in its internal control over financial reporting. On this news, the price of the Company's common stock declined 5% to close at $12.36 per share.
In its next financial quarter, on April 9, 2025, Neogen announced that quarterly revenue fell 3.4% to $221 million due to integration issues and again cut its FY25 guidance and noted that capital expenditures were expected to be $100 million as a result of lowered adjusted EBITDA and a pull-forward of integration-related capital expenditures into FY25. Neogen also announced that CEO Adent would be stepping down. On this news, the price of the Company's common stock plummeted 28% to close at $5.02 per share, on a volume spike of 47 million shares.
Finally, on June 4, 2025, Neogen revealed that it expected 'EBITDA margin to probably be around the high-teens' which represented a considerable drop from the previous quarter's profit margin of 22%. On this news, the price of the Company's common stock fell an additional 17%, to close at $4.96 per share.
For more information on the Neogen class action go to: https://bespc.com/cases/NEOG
Alto Neuroscience, Inc. (NYSE:ANRO)
According to the complaint, the Offering Documents in support of the IPO were negligently prepared. Additionally, during the class period, defendants failed to disclose that: (i) ALTO-100 was less effective in treating MDD than defendants had led investors to believe; (ii) accordingly, ALTO-100's clinical, regulatory, and commercial prospects were overstated; and (iii) as a result, Alto's business and/or financial prospects were overstated.
On October 22, 2024, Alto issued a press release announcing topline results from the Phase 2b trial evaluating ALTO-100 as a treatment for MDD. That press release stated, in relevant part, that 'ALTO-100 in patients with [MDD] did not meet its primary endpoint, assessed by a change from baseline in Montgomery-Åsberg Depression Rating Scale (MADRS), compared to placebo.' On this news, Alto's stock price fell $10.17 per share, or 69.99%, to close at $4.36 per share on October 23, 2024.
For more information on the Alto class action go to: https://bespc.com/cases/ANRO
RxSight, Inc. (NASDAQ:RXST)
The RxSight class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) RxSight was experiencing 'adoption challenges' and/or structural issues resulting in declines in sales and utilization; (ii) defendants had overstated the demand for RxSight's products; and (iii) as a result, RxSight was unlikely to meet its own previously issued financial guidance for fiscal year 2025.
The RxSight class action lawsuit further alleges that on July 8, 2025, RxSight reported preliminary second quarter of 2025 financial results, revealing significant declines in Light Delivery Device ('LDD') sales, LAL utilization, and overall revenue. RxSight also lowered its full year 2025 guidance by approximately $42.5 million at the midpoint, and RxSight's CEO, defendant Ronald Kurtz, disclosed that '[a]doption challenges over the last few quarters have been a primary reason for the LDD stall,' according to the complaint. The RxSight class action lawsuit alleges that on this news, the price of RxSight stock fell nearly 38%.
For more information on the RxSight class action go to: https://bespc.com/cases/RXST
Replimune Group, Inc. (NASDAQ:REPL)
On July 22, 2025, Replimune issued a press release 'announcing that the U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) regarding the Biologics License Application (BLA) for RP1 (vusolimogene oderparepvec) in combination with nivolumab for the treatment of advanced melanoma.' Per the press release, "[t]he CRL indicates that the FDA is unable to approve the application in its present form. The FDA has indicated that the IGNYTE trial is not considered to be an adequate and well-controlled clinical investigation that provides substantial evidence of effectiveness. Furthermore, the FDA said the trial cannot be adequately interpreted due to the heterogeneity of the patient population. The CRL also states that there are items related to the confirmatory trial study design which need to be addressed, including contribution of components. Importantly, no safety issues were raised.'
On this news, Replimune's stock price fell $9.52 per share, or 77.24%, to close at $2.81 per share on July 22, 2025.
For more information on the Replimune class action go to: https://bespc.com/cases/REPL
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Follow us for updates on LinkedIn, X, and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn and X.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
[email protected]
www.bespc.com
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