Investigations
Neogen Corporation
Overview
Overview
- Deadline:
- Sep 16, 2025
| Company Name: | Company Name: Neogen Corporation |
| Stock Symbol: | Stock Symbol: NEOG |
Neogen Corporation (NASDAQ: NEOG): Neogen Corporation (“Neogen” or the “Company”) and certain of the Company’s senior executives have been sued for violations of the federal securities laws. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Neogen stock. The case is pending in the U.S. District Court for the Western District of Michigan and is captioned Operating Engineers Construction Industry and Miscellaneous Pension Fund v. Neogen Corporation, et al., No. 25-cv-00802.
If you incurred losses on your investments in Neogen, you are encouraged to submit your information.
Why Was Neogen Sued for Securities Fraud?
Neogen is a food safety company that manufactures and markets products and services dedicated to food and animal safety. Neogen operates through two main business segments: Food Safety and Animal Safety. Neogen merged with the Food Safety Division of the 3M Company (“3M”) in a $5.3 billion deal that closed in September 2022.
During the relevant period, Neogen stated that the integration process was “off to a great start” and that the company “delivered solid core growth in both of our segments, and notably, a level of profitability well ahead of where the company was prior to the acquisition.” Neogen also stated that it continued to “make good progress on the integration activities” and that the company made “huge strides” in 2024 that allowed the company to “refocus that energy and time from integration efforts to efficiency and growth efforts[.]”
As alleged, in truth, the integration was plagued with inefficiencies from the start. The company knew such issues would necessitate a goodwill impairment and would impact capital expenditures, revenues, and EBITDA margins.
The Stock Declines as the Truth Is Revealed
On January 10, 2025, Neogen announced its Q2 2025 financial results. The company revealed that it was forced to take a $461 million non-cash goodwill impairment charge related to the 3M acquisition and cut its 2025 full year revenue and EBITDA guidance. The company also revealed material weaknesses in its internal controls over financial reporting. On this news, the price of Neogen stock declined $0.71 per share, or over 5%, from a closing price of $13.07 per share on January 8, 2025, to $12.36 per share on January 10, 2025, the following trading day after markets were closed in remembrance for former President Jimmy Carter.
On April 9, 2025, the company announced its Q3 2025 financial results, revealing that quarterly revenue fell 3.4% to $221 million due, in part, to integration issues. Neogen again cut its fiscal year 2025 revenue and EBITDA outlook and announced an additional $100 million in capital expenditures as a result of lowered adjusted EBITDA and a pull-forward of integration-related capital expenditures. The company also revealed its CEO would be stepping down. On this news, the price of Neogen stock declined $2.02 per share, or over 28%, from a closing price of $7.04 per share on April 8, 2025, to $5.02 per share on April 9, 2025.
Then, on June 4, 2025, Neogen revealed that expected EBITDA would fall to “around the high-teens,” a significant decline from the prior quarter’s profit margin of 22% due to “elevated inventory write-offs.” On this news, the price of Neogen stock declined $1.04 per share, or over 17%, from a closing price of $6.00 per share on June 3, 2025, to $4.96 per share on June 4, 2025.
What Are My Rights?
If you purchased or otherwise acquired Neogen stock, you may ask the Court no later than September 16, 2025, which is the first business day after 60 days from the date of the publication of notice of pendency of the action, to appoint you as Lead Plaintiff through counsel of your choice. To be a member of the Class, you need not take any action at this time. The ability to share in any potential future recovery is not dependent on serving as Lead Plaintiff.
Contact Us
If you incurred losses on your investments in Neogen, you are encouraged to submit your information to speak with an attorney about your rights.
You can also contact:
Ross Shikowitz
ross@bfalaw.com
212.789.3619
All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Why Bleichmar Fonti & Auld LLP?
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Attorney advertising. Past results do not guarantee future outcomes.
If you incurred losses on your investments in Neogen, you are encouraged to submit your information.
Why Was Neogen Sued for Securities Fraud?
Neogen is a food safety company that manufactures and markets products and services dedicated to food and animal safety. Neogen operates through two main business segments: Food Safety and Animal Safety. Neogen merged with the Food Safety Division of the 3M Company (“3M”) in a $5.3 billion deal that closed in September 2022.
During the relevant period, Neogen stated that the integration process was “off to a great start” and that the company “delivered solid core growth in both of our segments, and notably, a level of profitability well ahead of where the company was prior to the acquisition.” Neogen also stated that it continued to “make good progress on the integration activities” and that the company made “huge strides” in 2024 that allowed the company to “refocus that energy and time from integration efforts to efficiency and growth efforts[.]”
As alleged, in truth, the integration was plagued with inefficiencies from the start. The company knew such issues would necessitate a goodwill impairment and would impact capital expenditures, revenues, and EBITDA margins.
The Stock Declines as the Truth Is Revealed
On January 10, 2025, Neogen announced its Q2 2025 financial results. The company revealed that it was forced to take a $461 million non-cash goodwill impairment charge related to the 3M acquisition and cut its 2025 full year revenue and EBITDA guidance. The company also revealed material weaknesses in its internal controls over financial reporting. On this news, the price of Neogen stock declined $0.71 per share, or over 5%, from a closing price of $13.07 per share on January 8, 2025, to $12.36 per share on January 10, 2025, the following trading day after markets were closed in remembrance for former President Jimmy Carter.
On April 9, 2025, the company announced its Q3 2025 financial results, revealing that quarterly revenue fell 3.4% to $221 million due, in part, to integration issues. Neogen again cut its fiscal year 2025 revenue and EBITDA outlook and announced an additional $100 million in capital expenditures as a result of lowered adjusted EBITDA and a pull-forward of integration-related capital expenditures. The company also revealed its CEO would be stepping down. On this news, the price of Neogen stock declined $2.02 per share, or over 28%, from a closing price of $7.04 per share on April 8, 2025, to $5.02 per share on April 9, 2025.
Then, on June 4, 2025, Neogen revealed that expected EBITDA would fall to “around the high-teens,” a significant decline from the prior quarter’s profit margin of 22% due to “elevated inventory write-offs.” On this news, the price of Neogen stock declined $1.04 per share, or over 17%, from a closing price of $6.00 per share on June 3, 2025, to $4.96 per share on June 4, 2025.
What Are My Rights?
If you purchased or otherwise acquired Neogen stock, you may ask the Court no later than September 16, 2025, which is the first business day after 60 days from the date of the publication of notice of pendency of the action, to appoint you as Lead Plaintiff through counsel of your choice. To be a member of the Class, you need not take any action at this time. The ability to share in any potential future recovery is not dependent on serving as Lead Plaintiff.
Contact Us
If you incurred losses on your investments in Neogen, you are encouraged to submit your information to speak with an attorney about your rights.
You can also contact:
Ross Shikowitz
ross@bfalaw.com
212.789.3619
All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Why Bleichmar Fonti & Auld LLP?
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Attorney advertising. Past results do not guarantee future outcomes.