Twersky Law Group, a highly regarded and reputable law firm based in New York, wishes to inform investors about a significant development in the form of a class action lawsuit against Danaher Corporation (“Danaher” or “the Company) (NASDAQ: DHR) and certain officers of the company. This lawsuit has been filed on behalf of all individuals and entities that held, purchased, or otherwise acquired Danaher securities from April 21, 2022 through April 24, 2023 (the “Class Period”). Investors who acquired Danaher securities during this defined timeframe are strongly encouraged to participate in this case by contacting atara@twerskylawgroup.com. The deadline to file a motion for appointment of lead plaintiff is September 15, 2023.
The fundamental objective of this class action lawsuit is to recover for the benefit of investors who purchased Danaher securities during the Class Period, the losses they sustained as a consequence of the misleading statements made by Defendants in violation of the federal securities laws.
ALLEGATIONS AGAINST DANAHER CORPORATION
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) as the severity of the COVID-19 pandemic subsided, revenue growth associated with Danaher’s COVID-19-related businesses was declining; (ii) contrary to the Company’s prior representations to investors, revenues associated with Danaher’s non-COVID-19-related businesses were insufficient to compensate for the foregoing negative trend; (iii) accordingly, Danaher overstated the Company’s ability to sustain the growth it had experienced in 2020 and 2021; (iv) as a result, it was unlikely that Danaher would be able to meet its 2023 revenue forecasts; and (v) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times. On April 25, 2023, Danaher issued a press release announcing its financial results for the first quarter of 2023. Among other items, Danaher reported that “[r]evenues decreased 7.0% year-over-year to $7.2 billion, with a 4.0% non-GAAP core revenue decrease, due to the impact of lower COVID-19 revenue, and 6.0% non-GAAP base business core revenue growth.” The Company also projected that “[f]or the second quarter and full year 2023, . . . non-GAAP base business core revenue growth will be up mid-single digits year-over-year”, down from an earlier projection of high-single-digit growth. Notably, this announcement appeared to be at odds with Danaher’s prior reassurances that revenues associated with the Company’s non-COVID-19-related businesses would compensate for the foregoing negative results. On this news, Danaher’s stock price fell $22.36 per share, or 8.79%, to close at $231.99 per share on April 25, 2023.
ABOUT DANAHER CORPORATION
What does Danaher Corporation do?
- Danaher Corporation is a multinational conglomerate based in the United States. It operates in various industries, including life sciences, diagnostics, dental equipment, environmental and applied solutions, and industrial technologies.
Who are some of Danaher Corporation’s subsidiaries?
Danaher is known for its portfolio of businesses, each serving specific markets and customers. Some of its notable subsidiaries and divisions include:
- Beckman Coulter: A leading manufacturer of biomedical testing instruments and diagnostic equipment used in clinical laboratories and healthcare settings.
- Cepheid: A company that develops molecular diagnostic tests and systems for the detection of infectious diseases and other medical conditions.
- Leica Microsystems: A provider of microscopy and scientific instruments used in life sciences and research applications.
- Hach: A manufacturer of water analysis and monitoring instruments used in environmental and industrial applications.
- Pall Corporation: A company specializing in filtration, separation, and purification technologies used in various industries, including biopharmaceuticals and food and beverage.
- Tektronix: A manufacturer of test and measurement equipment used in electronics and engineering applications.
- Dental companies, such as KaVo Kerr and Nobel Biocare, which offer a range of dental equipment and materials.
JOIN THIS CASE
It is important to note that a class action lawsuit has already been filed in connection with these allegations. Therefore, for those who suffered financial losses in their investments in Danaher during the Class Period, there is a limited opportunity to seek appointment as a lead plaintiff. This process entails requesting the Court to designate them as the primary representative on behalf of the entire Class. The deadline for submitting such a request is September 15, 2023. It is important to emphasize that while becoming a lead plaintiff can offer certain advantages, participation in the recovery process and the potential for financial compensation does not mandate serving as a lead plaintiff.
Twersky Law Group, a distinguished legal firm renowned for its attorneys expertise in handling securities fraud class actions and shareholder derivative suits, who have a long-standing track record of successfully recovering significant sums of money for investors nationwide. With an unwavering commitment to seeking justice for their clients, the firm’s attorneys are resolute in pursuing fair compensation on behalf of those affected by alleged securities law violations. As with any legal matter, it is essential to understand that this announcement constitutes attorney advertising. Past case outcomes and results achieved do not guarantee similar outcomes in this particular case.
Investors who believe they may qualify as potential Class members in the class action lawsuit against Danaher are strongly encouraged to reach out directly to the firm for further information and assistance. The knowledgeable legal professionals at Twersky Law Group stand ready to provide guidance and support to investors seeking to protect their rights and pursue the recovery they deserve.
ABOUT US
For more information as well as to join this case please contact Atara Twersky, Esq. at atara@twerskylawgroup.com. Atara is Principal at Twersky Law Group and of counsel at AF&T Law Firm where she is director of Investor Services. Atara focuses her practice on assisting her clients with increasing their investment portfolio recoveries and ensuring that their portfolios remain healthy and robust. For more information on shareholder recoveries, listen to Atara ’s Pension and Investments Podcast with notable guests in the pension fund Industry that discusses various matters relating to investment portfolios. For more information on Atara and her legal work pertaining to shareholder protection click here.
