Core Viewpoint - Neogen Corporation (NASDAQ: NEOG) is facing a class action lawsuit due to allegations of issuing materially false and misleading statements regarding its integration with the Food Safety Division of 3M Company, which misled investors about the progress of the integration [3]. Group 1: Allegations and Class Action Details - The class period for the lawsuit is from January 5, 2023, to June 3, 2025 [3]. - The complaint alleges that Neogen's management downplayed inefficiencies arising from the integration and misled investors about their commitment to resolving these issues [3]. - Shareholders are encouraged to register for the class action by September 16, 2025, to potentially be appointed as lead plaintiffs [4]. Group 2: Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].

Core Viewpoint - Neogen Corporation is facing a class action lawsuit due to alleged misleading statements and failure to disclose material facts regarding the integration of 3M's Food Safety Division, leading to significant financial losses for investors [4][7]. Group 1: Company Overview - Neogen Corporation develops, manufactures, and markets products focused on food and animal safety, and completed a strategic merger with 3M's Food Safety Division in September 2022 [3]. Group 2: Allegations and Financial Impact - The lawsuit claims that Neogen misrepresented the progress of the integration, which was actually facing operational and financial difficulties [5]. - Neogen reported a GAAP net loss of $461 million due to a non-cash goodwill impairment related to the 3M acquisition, along with downward revisions to revenue and EBITDA guidance for 2025 [5]. - In Q3 2025, Neogen experienced a net loss of $11 million, a decline in revenue by 3.4% to $221 million, and increased capital expenditures projected at $100 million due to integration spending [5]. - Following these disclosures, Neogen's stock fell approximately 28% and then dropped more than 17% after announcing a significant decline in EBITDA margin expectations [6].

Core 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 - 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, alongside a reduction in fiscal year 2025 revenue and EBITDA guidance [4]. - Following this announcement, Neogen's stock price dropped over 5% [4]. - On April 9, 2025, Neogen reported a loss of $11 million for the third quarter of 2025, a significant increase from a loss of $2 million the previous year, with revenue falling 3.4% to $221 million due to integration issues [5]. - This news led to a 28% decline in Neogen's stock price [5]. - On June 4, 2025, Neogen projected an EBITDA margin drop to the high teens from 22%, attributing the decline to elevated inventory write-offs, resulting in a further stock price drop of over 17% [6]. Legal Process - Investors who purchased Neogen common stock during the class period can seek appointment as lead plaintiff in the class action lawsuit, representing the interests of all class members [7].

Core 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].

Core Viewpoint - Neogen Corporation is facing a class action lawsuit due to allegations of misleading investors regarding its integration with 3M Company, which has negatively impacted its financial health [2][3]. Financial Performance - On January 10, 2025, Neogen reported a GAAP net income that was significantly negative, primarily due to a $461 million non-cash goodwill impairment charge related to the 3M acquisition [3]. - Neogen cut its fiscal year 2025 revenue and EBITDA guidance following the negative financial disclosures [3]. - On April 9, 2025, Neogen announced a quarterly revenue decline of 3.4% to $221 million, attributing part of this decline to integration issues [4]. - The company expected capital expenditures to be $100 million due to lowered adjusted EBITDA and a pull-forward of integration-related capital expenditures into FY25 [4]. - On June 4, 2025, Neogen projected an EBITDA margin in the high teens, a significant drop from the previous quarter's margin of 22% [5]. Stock Performance - Following the January 10, 2025 announcement, Neogen's stock price fell by 5% to close at $12.36 per share [3]. - After the April 9, 2025 announcement, the stock price plummeted by 28% [4]. - By June 4, 2025, the stock price had further declined by 17%, closing at $4.96 per share, marking a total drop of $18.88 per share or 79% from its August 15, 2023 high of $23.84 per share, erasing over $4 billion in market capitalization [5].

Core 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 of its business with 3M's Food Safety Division and the financial implications of this merger [1][3][4]. Company Overview - Neogen Corporation specializes in the development, manufacture, and marketing of products and services focused on food and animal safety [2]. Class Action Details - The class action lawsuit is titled "Operating Engineers Construction Industry and Miscellaneous Pension Fund v. Neogen Corporation" and allows investors who purchased Neogen common stock between January 5, 2023, and June 3, 2025, to seek appointment as lead plaintiff by September 16, 2025 [1][7]. - The lawsuit alleges that Neogen's executives made false statements about the progress of the integration with 3M and downplayed inefficiencies that arose during this process [3][4]. Financial Performance - 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, alongside a reduction in fiscal year 2025 revenue and EBITDA guidance [4]. - In the third quarter of 2025, Neogen reported a loss of $11 million, a significant increase from a $2 million loss the previous year, with revenue declining by 3.4% to $221 million due to integration issues [5]. - On June 4, 2025, Neogen projected an EBITDA margin drop to the high teens from 22%, attributing this to elevated inventory write-offs, which led to a further decline in stock price by over 17% [6].

Financial Performance - Q4 FY25 revenue was $225.5 million, a decrease from $236.8 million in Q4 FY24[11] - Adjusted EBITDA for Q4 FY25 was $40.6 million, compared to $53.0 million in Q4 FY24, with a margin of 18.0% versus 22.4%[12] - Adjusted net income decreased to $11.3 million ($0.05 per share) in Q4 FY25 from $22.4 million ($0.10 per share) in Q4 FY24[13] - Core revenue growth in the Food Safety segment was (1.3)%, while the Animal Safety segment experienced a core revenue growth of (6.7)%[15] Balance Sheet and Capital Allocation - As of May 31, 2025, gross debt was $900 million and net debt was $771 million[17] - Pro forma net debt, after accounting for cash and equivalents, is $656 million with gross debt at $800 million[17] - Net proceeds from the Cleaners & Disinfectants divestiture were approximately $115 million, with $100 million allocated for debt paydown in Q1[19] FY26 Outlook - The company anticipates FY26 revenue to be between $820 million and $840 million[21] - Adjusted EBITDA is projected to be in the range of $165 million to $175 million[21] - Capital expenditures are estimated to be around $50 million, including approximately $35 million for integration-related expenses[21]

Core Viewpoint - Neogen Corporation (NASDAQ: NEOG) is facing a class action lawsuit due to allegations of issuing materially false and misleading statements regarding its integration with the Food Safety Division of 3M Company, which misled investors about the progress of the integration [3]. Group 1: Allegations and Class Action Details - The class period for the lawsuit is from January 5, 2023, to June 3, 2025 [3]. - The complaint alleges that Neogen's management downplayed inefficiencies arising from the integration and assured investors of their commitment to resolving these issues quickly [3]. - Shareholders are encouraged to register for the class action by September 16, 2025, to potentially become lead plaintiffs [4]. Group 2: Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].

Core 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 engages in the development, manufacture, and marketing of products and services focused on food and animal safety [2]. - The company announced a merger with the Food Safety Division of 3M in December 2021, which was completed in September 2022 [2]. Allegations of the Lawsuit - The lawsuit alleges that Neogen's executives misrepresented the progress of the integration with 3M and downplayed inefficiencies that arose during this process [3]. - 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, alongside a reduction in revenue and EBITDA guidance for fiscal year 2025 [4]. - Following the announcement of its third quarter results on April 9, 2025, Neogen reported a loss of $11 million, a revenue decline of 3.4% to $221 million, and a significant drop in stock price by 28% [5]. - On June 4, 2025, Neogen projected a drop in EBITDA margin to the high teens from 22%, leading to a further stock price decline of over 17% [6]. Legal Process - Investors who purchased Neogen common stock during the class period can seek appointment as lead plaintiff in the class action lawsuit, representing the interests of all class members [7]. Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [8][9].

Core 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 of its business with 3M's Food Safety Division [1][3]. Company Overview - Neogen Corporation engages in the development, manufacture, and marketing of products and services focused on food and animal safety [2]. Class Action Details - The class action lawsuit is titled "Operating Engineers Construction Industry and Miscellaneous Pension Fund v. Neogen Corporation" and allows investors who purchased Neogen common stock between January 5, 2023, and June 3, 2025, to seek appointment as lead plaintiff by September 16, 2025 [1][7]. Allegations Against Neogen - The lawsuit alleges that Neogen's executives made false statements about the progress of the integration with 3M, leading investors to believe it was going well, while downplaying inefficiencies that arose during the process [3][4]. - 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 stock price drop of over 5% [4]. - On April 9, 2025, Neogen announced a loss of $11 million for the third quarter of 2025, a significant increase from a $2 million loss the previous year, and reported a 3.4% revenue decline to $221 million, resulting in a 28% drop in stock price [5]. - On June 4, 2025, Neogen projected a drop in EBITDA margin to the high teens from 22%, attributing this to elevated inventory write-offs, which caused the stock price to fall more than 17% [6]. Legal 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].