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NEW YORK, Nov. 14, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against Baxter International, Inc. (NYSE: BAX), Black Knight, Inc. (NYSE: BKI), Merit Medical Systems, Inc. (NASDAQ: MMSI), and Forescout Technologies, Inc. (NASDAQ: FSCT) on behalf of investors. Our investigation concerns whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Baxter International, Inc. (NYSE: BAX)
On October 24, 2019, shares of Baxter fell more than 9% after the Company disclosed an internal probe into its currency trading practices. According to news reports, Baxter engaged in certain intra-Company transactions for the purpose of generating foreign exchange gains or losses which were not recorded in accordance with generally accepted accounting principles. These intra-Company transactions allegedly resulted in certain misstatements in the Company’s previously reported non-operating income related to net foreign exchange gains. This same day, the Company also reported that it has advised the Securities and Exchange Commission SEC of the internal investigation and advised investors that the Company does not expect to file its quarterly report on Form 10-Q for the period ended September 30, 2019 on a timely basis.
For more information on our investigation into Baxter go to: https://bespc.com/bax
Merit Medical Systems, Inc. (NASDAQ: MMSI)
On July 25, 2019, Merit announced its financial and operating results for the second quarter of 2019. The Company announced net income of $6.9 million, or $0.12 per share, compared to $10.9 million, or $0.21 per share for the same period last year. Merit’s Chairman and Chief Executive Officer, Fred P. Lampropoulos, cited “a number of factors affecting revenues and gross margins during the second quarter,” including “foreign exchange [and] slower than anticipated conversion and uptake of acquired products.”
On this news, Merit’s stock price fell $13.84 per share, or 25.24%, to close at $41.00 on July 26, 2019.
For more information on our investigation into Merit Medical go to: https://bespc.com/mmsi
Black Knight, Inc. (NYSE: BKI)
On November 6, 2019, PennyMac Financial Services, Inc. (“PennyMac”) announced that it had filed a lawsuit against Black Knight, alleging that the Company “entraps its mortgage lending customers by encouraging them to invest substantial resources to supplement Black Knight’s antiquated MSP product” and “exploits customers’ reluctance to leave by repeatedly forcing subsequent price increases onto its customers without any improvements or innovations to its product.” Additionally, PennyMac claims that Black Knight failed to properly disclose to investors the imminent loss of a significant customer following PennyMac’s May 2019 notice of its nonrenewal of Black Knight’s LoanSphere® MSP.
On this news, Black Knight’s stock price fell $4.69, or 7.5%, to close at $57.65 on November 6, 2019.
For more information on our investigation into Black Knight go to: https://bespc.com/bki
Forescout Technologies, Inc. (NASDAQ: FSCT)
Over the past several quarters, Forescout has advertised its "solid" results that supposedly demonstrated "the pervasive need for device visibility and control."
On October 10, 2019, the company announced disappointing Q3 2019 financial results, citing several deals that were allegedly pushed out of the third quarter.
Analysts and investors, however, were doubtful of the company's explanation. Motley Fool reported "[t]he market isn't buying that these delayed deals are a one-off issue."
On this news, the price of Forescout shares declined by $14.63, or over 37%, on October 10, 2019.
For more information on our investigation into Forescout go to: https://bespc.com/fsct
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.