March 29, 2021 - The court denied the defendants' motion to dismiss.

August 14, 2020 - A motion to dismiss the consolidated complaint was filed.

June 30, 2020 - A consolidated complaint was filed.

December 3, 2019 - An investor in shares of Merit Medical Systems, Inc. (NYSE: MMSI) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Merit Medical Systems, Inc. in connection with certain allegedly false and misleading statements made between February 26, 2019 and October 30, 2019.

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 Medical’s 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.”

Then, on October 30, 2019, Merit Medical Systems, Inc. announced its third quarter 2019 financial results, reporting adjusted earnings per share well below consensus estimates, and slashed fiscal 2019 revenue and earnings per share guidance by 20%. Furthermore, Merit Medical Systems, Inc. stated that, in addition to the fiscal 2019 guidance cut, “2020 guidance [was] off the table” until they had reasonable confidence in their forecasting ability, and reported significant operational issues in all aspects of Merit’s business, conceding that many of these failures were due to their “own overestimation and forecasting.” Shares of Merit Medical Systems, Inc. (NYSE: MMSI) declined from $60.50 per share on July 1, 2019 to as low as $19.50 per share on October 31, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Merit Medical Systems, Inc. (NYSE: MMSI) common shares between February 26, 2019 and October 30, 2019 , that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 26, 2019 and October 30, 2019, the defendants failed to disclose that the integrations of Cianna and Vascular Insights, including their products, sales people, and R&D facilities, had caused operational disruptions and reduced sales and were months behind schedule, that sales of acquired company products had slowed substantially due to pre-acquisition pipeline fill, in particular for Vascular Insights products which, as late as July 2019, had zero orders during fiscal 2019, and that in light of the foregoing, the Company’s reported financial guidance for fiscal 2019 and 2020 was made without a reasonable basis.