Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds Alere Inc. (NYSE:ALR) that June 20, 2016 is the lead plaintiff deadline in the securities class action lawsuit concerning Alere’s apparent improper revenue recognition in violation of GAAP. Hagens Berman is expanding its investigation in light of recent news that Abbot Laboratories was attempting to end the pending acquisition of Alere.  

If you suffered $500,000 or more in losses from your purchases of Alere between May 9, 2013 and April 20, 2016 or have information that will help our investigation contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation by calling 510-725-3000, emailing [email protected] or visiting https://www.hbsslaw.com/cases/ALR.  The lawsuit was filed in the U.S. District Court for the District of Massachusetts and investors have until June 20, 2016 to move the court to participate as a lead plaintiff.

On February 1, 2016, Alere announced it entered into a merger agreement with Abbott Laboratories.  On this news Alere’s share price shot up $16.91, more than 45%, to close at $54.11 per share that day.

Just weeks later, Alere announced it would not timely file its 2015 Form 10-K and it was served with an SEC subpoena seeking revenue recognition related information, and a grand jury subpoena from the DOJ concerning activities that may violate the U.S. Foreign Corrupt Practices Act.

Abbott’s CEO refused to reaffirm Abbott’s commitment to the Alere business combination, expressed its “serious concerns about, among other things, the accuracy of various representations, warranties and covenants made by Alere” in the merger agreement, and has attempted to terminate the merger. Alere’s stock now trades around $39.00 per share – a drop of almost 30% since the acquisition was announced.

“Abbott’s attempt to terminate the acquisition of Alere highlights the serious nature of these government investigations,” said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding Alere. should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower 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 [email protected].

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