The law firm of Kirby McInerney LLP is investigating potential claims against Embecta Corporation (“Embecta” or the “Company”) (NASDAQ: EMBC). The investigation concerns whether Embecta and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
Embecta provides medical supplies and equipment.
On December 20, 2022, Embecta issued a press release announcing the company's fourth quarter and full year 2022 financial results. Embecta's report included fourth-quarter revenue of $274.6 million, down 8.7% year-over-year, a $58.9 million impairment charge “related to the abandonment of certain U.S. manufacturing lines that are no longer expected to be completed,” and “5.5 million in impairment charges related to the abandonment of the purchase commitment of [the production line].” On this news, the price of Embecta shares declined by $5.08, or approximately 15.64%, from $32.48 per share to close at $27.40 on December 20, 2022.
If you purchased or otherwise acquired Embecta securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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