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NEOGEN Corporation

Securities Class Action

  • Date:
  • 12/15/2021
  • Company Name:
  • NEOGEN Corporation
  • Stock Symbol:
  • NEOG
  • Status:
  • Filed
  • Filing Date:
  • 7/18/2025
  • Court:
  • U.S. Bankruptcy Court: Western District of Michigan

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Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Neogen Corporation (“Neogen” or the “Company”) (NASDAQ:NEOG) in the United States District Court for the Western District of Michigan on behalf of all persons and entities who purchased or otherwise acquired Neogen common stock  between January 5, 2023 through June 3, 2025, both dates inclusive (the “Class Period”). Investors have until September 16, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

The complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Specifically, the lawsuit alleges that throughout the Class Period, Defendants misrepresented the status of the 3M integration and failed to disclose the negative impact of integration issues on the financial health of Neogen. Defendants issued a series of materially false and misleading statements which led investors to believe that the integration was progressing smoothly. Defendants downplayed integration “inefficiencies” and assured investors that they were fully aware and committed to resolving the issues quickly.

Investors slowly learned the truth through a series of disclosures beginning on January 10, 2025. That day, the Company revealed that GAAP net income in the second quarter was significantly negative due to a $461 million non-cash goodwill impairment charge related to the 3M acquisition and cut its FY25 revenue and EBITDA guidance. Neogen also revealed that, as of November 30, 2024, the Company had material weaknesses in its internal control over financial reporting. On this news, the price of the Company’s common stock declined 5% to close at $12.36 per share.

In its next financial quarter, on April 9, 2025, Neogen announced that quarterly revenue fell 3.4% to $221 million due to integration issues and again cut its FY25 guidance and noted that capital expenditures were expected to be $100 million as a result of lowered adjusted EBITDA and a pull-forward of integration-related capital expenditures into FY25. Neogen also announced that CEO Adent would be stepping down. On this news, the price of the Company’s common stock plummeted 28% to close at $5.02 per share, on a volume spike of 47 million shares.
 
Finally, on June 4, 2025, Neogen revealed that it expected “EBITDA margin to probably be around the high-teens” which represented a considerable drop from the previous quarter’s profit margin of 22%. On this news, the price of the Company’s common stock fell an additional 17%, to close at $4.96 per share.
 
If you purchased or otherwise acquired Neogen 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 Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out the form below.  There is no cost or obligation to you.
Contact Instructions
Please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com with any questions regarding the case.
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in NEOGEN Corporation. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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