Embecta Corp. (EMBC)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims against Embecta Corp. (“Embecta” or the “Company”) (NASDAQ: GAIA). Investors who purchased Embecta securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/embc.
The investigation concerns whether Embecta violated federal securities laws.
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 are aware of any facts relating to this investigation or purchased Embecta securities, you can assist with this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.