Class Action Filed Against QuidelOrtho Corporation f/k/a Quidel Corporation (QDEL) - June 11, 2024 Deadline to Join - Contact The Gross Law Firm

Core Viewpoint - QuidelOrtho Corporation is facing allegations of issuing misleading statements regarding its COVID-19 test sales and inventory management, leading to potential legal action from shareholders [2]. Group 1: Allegations and Class Period - The class period for the allegations is from February 18, 2022, to April 1, 2024 [2]. - Allegations include that QuidelOrtho sold more COVID-19 tests than could be resold, leading to excess inventory in the supply chain [2]. - Distributors and pharmacy chain customers are expected to significantly reduce their COVID-19 test orders due to the excess inventory [2]. - There are undisclosed issues that may delay the commercial launch of the savanna respiratory viral panel-4 test in the U.S. [2]. - The defendants are claimed to lack a reasonable basis for their positive statements about QuidelOrtho's business and financial outlook [2]. Group 2: Legal Action and Participation - Shareholders are encouraged to register for the class action lawsuit by June 11, 2024, to potentially become lead plaintiffs [3]. - Registration allows shareholders to receive updates on the case through portfolio monitoring software [3]. - Participation in the case incurs no cost or obligation for shareholders [3]. Group 3: Law Firm's Commitment - The Gross Law Firm aims to protect investors' rights against deceit and fraud in business practices [4]. - The firm seeks recovery for investors who suffered losses due to misleading statements or omissions by companies [4].