NEW YORK, May 04, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating certain officers and directors of Merit Medical Systems, Inc. (NASDAQ: MMSI), Ebix, Inc. (NASDAQ: EBIX), and Zoom Video Communications, Inc. (NASDAQ: ZM) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
Merit Medical Systems, Inc. (NASDAQ: MMSI)
Bragar Eagel & Squire is investigating certain officers and directors of Merit Medical Systems, Inc. following news that the Shareholder Class Action against Merit Medical has survived the motions to dismiss in the pending securities class action and may face damages.
According to the securities class action complaint, during the class period defendants made false and misleading statements and/or failed to disclose adverse information concerning Merit’s business and prospects. Specifically, defendants failed to disclose that: (a) the integrations of Cianna and Vascular Insights, including their products, sales people, and R&D facilities, had caused operational disruptions and reduced sales and were months behind schedule; (b) sales of acquired company products had slowed substantially due to pre-acquisition pipeline fill, in particular for Vascular Insights products which, as late as July 2019, had zero orders during fiscal 2019; and (c) in light of the foregoing, the Company’s reported financial guidance for fiscal 2019 and 2020 was made without a reasonable basis. As a result of defendants’ material misrepresentations and omissions, Merit stock traded at artificially inflated prices of more than $62 per share. On March 29, 2021, U.S. District Judge David O. Carter denied defendants’ motions to dismiss plaintiffs’ claims, finding that plaintiffs had plausibly alleged securities fraud claims.
For more information on our investigation into Merit Medical go to: https://bespc.com/cases/mmsi
Ebix, Inc. (NASDAQ: EBIX)
Bragar Eagel & Squire is investigating certain officers and directors of Ebix, Inc.. following a class action complaint that was filed against Ebix on February 22, 2021.
The complaint alleges that throughout the Class Period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that there was insufficient audit evidence to determine the business purpose of certain significant unusual transactions in Ebix’s gift card business in India during the fourth quarter of 2020; (2) that there was a material weakness in Company’s internal controls over the gift or prepaid revenue transaction cycle; and (3) that the Company’s independent auditor was reasonably likely to resign over disagreements with Ebix regarding $30 million that had been transferred into a commingled trust account of Ebix’s outside legal counsel; and (4) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
For more information on our investigation into Ebix go to: https://bespc.com/cases/ebix
Zoom Video Communications, Inc. (NASDAQ: ZM)
Bragar Eagel & Squire is investigating certain officers and directors of Zoom Video Communications, Inc. following a class action complaint that was filed against Zoom on April 7, 2020.
The Complaint alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Zoom had inadequate data privacy and security measures; (ii) contrary to Zoom’s assertions, the Company’s video communications service was not end-to-end encrypted; (iii) as a result of all the foregoing, users of Zoom’s communications services were at an increased risk of having their personal information accessed by unauthorized parties, including Facebook; (iv) usage of the Company’s video communications services was foreseeably likely to decline when the foregoing facts came to light; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
For more information on our investigation into Zoom go to: https://bespc.com/cases/ZM
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.