Danaher Allegedly Misled Investors About Growth After Covid

Biotech company Danaher Corp. overstated its ability to sustain the growth it experienced in 2020 and 2021 from Covid-19 testing and vaccine development, an investor says in a proposed class action.

Danaher’s stock price dropped nearly 9% when it announced a year-over-year revenue decrease in April, shareholder Brenda Hawkins says in the complaint, filed Monday in the US District Court for the District of Columbia.

Biotech and pharmaceutical companies have faced Covid-related investor suits stemming from various scenarios, typically based on statements about a vaccine or drug candidate’s success. Here, the investor alleges the company misrepresented its non-Covid-related business and ...