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SAN FRANCISCO, Oct. 09, 2019 (GLOBE NEWSWIRE) -- Hagens Berman notifies Qiagen N.V. (NYSE: QGEN) investors of the firm’s ongoing investigation of possible violations of federal securities laws.
Qiagen N.V. (QGEN) Investigation:
The investigation centers on whether Qiagen misrepresented or concealed regional demand for its molecular and genetic testing applications.
More specifically, on October 8, 2019, Qiagen warned that Q3 2019 net sales growth would only be 3%, or 40% lower than its initial projections, attributing the reduction to significantly weaker-than-expected developments in China. The company also disclosed that it would be shifting its global operations organization to a regional manufacturing structure and taking a restructuring charge of $260 – $265 million. Further, the company announced the abrupt resignation of its longtime Chairman and CEO Peer Schatz.
In response, the price of Qiagen shares steeply fell on October 8, 2019.
“We’re focused on investors’ losses and whether Qiagen falsely portrayed demand for its products,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Qiagen should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email QGEN@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000