An investigation on behalf of investors of Merit Medical Systems, Inc. (NYSE: MMSI) shares over potential securities laws violations by Merit Medical Systems, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Merit Medical Systems, Inc. (NYSE: MMSI) concerning whether a series of statements by Merit Medical Systems, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

South Jordan, UT based Merit Medical Systems, Inc. manufactures and markets disposable medical devices for interventional, diagnostic, and therapeutic procedures in cardiology, radiology, oncology, critical care, and endoscopy. After the market closed on July 25, 2019, Merit Medical Systems, Inc announced its financial and operating results for the second quarter of 2019. Merit Medical Systems, Inc announced net income of $6.9 million, or $0.12 per share, compared to $10.9 million, or $0.21 per share for the same period in the prior year. Merit Medicals Chairman and Chief Executive Officer, Fred P. Lampropoulos, cited a number of factors affecting revenues and gross margins during the second quarter, including foreign exchange [and] slower than anticipated conversion and uptake of acquired products.

Shares of Merit Medical Systems, Inc. (NYSE: MMSI) declined from $60.50 per share on July 1, 2019 to as low as $36.18 per share on August 16, 2019.