NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Embecta Corp. (“Embecta” or the “Company”) (NASDAQ: EMBC) on behalf of Embecta stockholders. Our investigation concerns whether Embecta has violated the federal securities laws and/or engaged in other unlawful business practices.
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On December 20, 2022, Embecta issued a press release announcing the Company’s Q4 and full year 2022 financial results Among other things, Embecta reported Q4 revenue of $274.6 million, down 8.7% year over year, a $58.9 million impairment charge “related to the abandonment of certain manufacturing production lines in the United States that are no longer expected to be completed,” and “a $5.5 million charge related to purchase commitments associated with the abandonment of the [production lines].”
On this news, Embecta’s stock price fell $5.08 per share, or 15.64%, to close at $27.40 per share on December 20, 2022.
If you purchased or otherwise acquired Embecta shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. 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.
