QuidelOrtho Corp.'s former CEO and other members of leadership breached their duties to the company when they concealed diminishing Covid-19 test revenue and setbacks for a viral test under development, an investor alleges.
The inflated stock price caused QuidelOrtho to overpay for stock repurchases, and stock drops after the company’s eventual disclosures opened it to a class action, shareholder Matthew Whitfield says. He filed his derivative suit on behalf of the company Thursday in the US District Court for the Southern District of New York.
Board members and executives “assured the public that QuidelOrtho was well positioned to maintain a ...
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