Lawsuit Overview
April 6, 2015 (Shareholders Foundation) - An investor in shares of Hologic, Inc. (NASDAQ:HOLX) filed a lawsuit against Carl C. Icahn and others to recover short swing insider trading profits..
The plaintiff claims that the defendants are required to disgorge any profits they earn through short-swing insider trading when they are statutory insiders.
In late November 2013 activist investor Carl Icahn disclosed a 12.5% stake in Hologic, Inc..
Subsequently, Hologic, Inc. adopted a poison pill to prevent a hostile takeover.
Hologic, Inc. reported that its Total Revenue rose from over $2.49 billion for the 12 months period that ended on Sept. 28, 2013 to over $2.53 billion for the 12 months period that ended on Sept. 27, 2014 and that its Net Loss of over $1.17 billion for the 12 months period that ended on Sept. 28, 2013 turned into a Net Income of $17.30 million for the 12 months period that ended on Sept. 27, 2014.
Shares of Hologic, Inc. (NASDAQ:HOLX) grew from $19.08 per share in November 2012 to as high as $33.34 per share on March 31, 2015.