NEOG INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Announces that Neogen Corporation Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
If you suffered substantial losses and wish to serve as lead plaintiff of the Neogen class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-neogen-corporation.html
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com.
CASE ALLEGATIONS: Neogen, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety. According to the complaint, in December 2021, it was announced that Neogen would merge with the Food Safety Division of the 3M Company, with the deal closing in September 2022.
The Neogen class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants led investors to believe that Neogen's integration with 3M was progressing much better than it actually was; and (ii) even when Neogen was forced to reveal that certain 'inefficiencies' arose as a result of the integration, defendants downplayed them and assured investors that they were fully aware and committed to resolving them quickly.
The Neogen class action lawsuit further alleges that on January 10, 2025, Neogen announced its preliminary second quarter of 2025 financial results, revealing, among other things, that: (i) GAAP net income in the quarter was significantly negative due to a $461 million non-cash goodwill impairment charge related to the 3M acquisition; (ii) Neogen cut its fiscal year 2025 revenue and EBITDA guidance; and (iii) Neogen concluded that, as of November 30, 2024, Neogen had material weaknesses in its internal control over financial reporting. On this news, the price of Neogen common stock fell more than 5%, according to the complaint.
Then, on April 9, 2025, the Neogen class action lawsuit alleges that Neogen announced its third quarter of 2025 financial results, reporting a loss of $11 million, or $0.05 per share, compared with a loss of $2 million, or $0.01 per share, a year earlier. Neogen further announced that revenue fell 3.4% to $221 million which had been negatively impacted by integration issues, Neogen was cutting its fiscal year 2025 revenue and EBITDA outlook, capital expenditures were expected to be $100 million as a result of lowered adjusted EBITDA and a 'pull-forward of . . . integration capex into fiscal 2025,' and that CEO, defendant John Adent, would be stepping down. On this news, the price of Neogen common stock fell 28%, according to the complaint.
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%, blaming the expected shortfall on 'elevated . . . inventory write-offs,' according to the complaint. The Neogen class action lawsuit alleges that on this news, the price of Neogen common stock fell more than 17%.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Neogen common stock during the Class Period to seek appointment as lead plaintiff in the Neogen class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Neogen class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Neogen class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Neogen class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
Contact:
Robbins Geller Rudman & Dowd LLPJ.C. Sanchez, Jennifer N. Caringal655 W. Broadway, Suite 1900, San Diego, CA 92101800-449-4900info@rgrdlaw.com
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