June 2, 2017 (Shareholders Foundation) - An investigation on behalf of investors in shares of Meridian Bioscience, Inc. (NASDAQ:VIVO) was announced over potential breaches of fiduciary duties by certain officers and directors at Meridian Bioscience.

The investigation by a law firm concerns whether certain Meridian Bioscience officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

Meridian Bioscience, Inc. reported that its Total Revenue rose from $194.83 million for the 12 months period that ended on September 30, 2015 to over $196.08 million for the 12 months period that ended on September 30, 2016 and that its Net Income for those respective time periods declined from $35.54 million to $32.23 million.

On January 25, 2017, Meridian Bioscience, Inc announced negative first-quarter 2017 fiscal year financial results, revised its previously issued revenue guidance for the 2017 fiscal year downwards, and announced that the Board of Directors reduced the annual indicated dividend rate.

On May 17, 2017, the U.S. Food and Drug Administration ('FDA') issued a warning to Meridian Bioscience, Inc that lead tests conducted by the Companys subsidiary, Magellan Diagnostics, may be incorrect. According to the FDA, tests performed on blood drawn from a vein has led to results that are lower than the actual level of lead in the blood. The FDA has recommended discontinuation of Magellan when testing with venous blood samples.