Neogen(US:NEOG) Prnewswireยท2025-08-02 01:40Core Viewpoint - Neogen Corporation is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with claims that the company and its executives misled investors regarding the integration with 3M and the financial health of the company during the class period from January 5, 2023, to June 3, 2025 [1][3]. Company Overview - Neogen Corporation, along with its subsidiaries, specializes in the development, manufacture, and marketing of products and services focused on food and animal safety [2]. Allegations of the Lawsuit - The lawsuit claims that Neogen's executives made false or misleading statements about the progress of the integration with 3M, leading investors to believe it was more successful than it was [3]. - It is alleged that when Neogen disclosed "inefficiencies" from the integration, the executives downplayed these issues and assured investors of their commitment to resolving them [3]. Financial Performance and Impact - On January 10, 2025, Neogen reported a significant GAAP net income loss due to a $461 million non-cash goodwill impairment charge related to the 3M acquisition, leading to a more than 5% drop in stock price [4]. - The third quarter results on April 9, 2025, showed a loss of $11 million, a revenue decline of 3.4% to $221 million, and a 28% drop in stock price following the announcement [5]. - On June 4, 2025, Neogen projected an EBITDA margin drop to the high teens from 22%, resulting in a more than 17% decline in stock price [6]. Lead Plaintiff Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Neogen common stock during the class period to seek appointment as lead plaintiff, representing the interests of the class [7]. Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [8][9].