Investigations

GRABAR LAW OFFICE INVESTIGATES POTENTIAL SHAREHOLDER ACTION ON BEHALF OF CURRENT SHAREHOLDERS OF MERIT MEDICAL SYSTEMS, INC. (NASDAQ: MMSI)

Current Merit Medical Systems, Inc. (NASDAQ: MMSI) shareholders who have held shares of the Company’s stock since at least February 26, 2019, have standing to seek corporate reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate.

An $18.25 million settlement in a securities class action against Merit in the United States District Court for the Central District of California has recently been announced.  The class action alleged that Merit, a medical device company whose entire business model was predicated on a “growth-by-acquisitions” strategy, and its CEO and CFO, made false and misleading statements about the company's integration of two key corporate acquisitions, Cianna Medical Inc. and Vascular Insights, LLC’s ClariVein. When Merit eventually revealed the truth about its difficulties in successfully integrating the acquisitions, hundreds of millions of dollars of shareholder value was lost. While the market was kept in the dark, several Merit officers and directors sold more than $12.6 million of company stock. 

Unlike a class action, brought on behalf of damaged investors, a shareholder derivative action is an action brought by a shareholder of a public company on behalf of and for the benefit of the company itself against the directors and/or officers of that company. In a derivative action, shareholders “step into the shoes” of the directors and officers of a company and bring litigation that the board would be unwilling to pursue on its own.

If you would like to learn more about this matter at no cost to you, fill out the form provided or contact us at jgrabar@grabarlaw.com or call 267-507-6085. $MMSI

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