Neogen Corporation Investors: Please contact the Portnoy Law Firm to recover your losses. September 16, 2025 Deadline to file Lead Plaintiff Motion.

Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, Aug. 05, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Neogen Corporation ("Neogen" or the "Company") (NASDAQ: NEOG) investors of a class action representing investors that bought securities between January 5, 2023 and June 3, 2025, inclusive (the "Class Period"). Neogen investors have until September 16, 2025 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

CASE ALLEGATIONS: Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets a range of products and services focused on food and animal safety. In December 2021, Neogen announced a strategic merger with the Food Safety Division of 3M Company, a deal that officially closed in September 2022.

According to the class action complaint, defendants misled investors throughout the Class Period by making false and/or misleading statements and by failing to disclose material facts related to the post-merger integration process. Specifically, the lawsuit alleges that:

1. Misrepresentation of Integration Progress:

Defendants gave investors the impression that the integration of 3M’s Food Safety Division into Neogen’s operations was proceeding smoothly and effectively, when in fact it was encountering significant operational and financial difficulties.

2. Minimization of Issues:

Even after Neogen was forced to acknowledge certain “inefficiencies” arising from the integration, defendants allegedly downplayed the seriousness of these issues and assured investors that management was fully aware and actively addressing them.

The truth began to emerge in a series of partial disclosures:

3. January 10, 2025: Neogen announced preliminary Q2 2025 results revealing:

A significant GAAP net loss due to a $461 million non-cash goodwill impairment tied to the 3M acquisition;
Downward revisions to full-year 2025 revenue and EBITDA guidance;
Identification of material weaknesses in internal control over financial reporting as of November 30, 2024.

On this news, Neogen’s stock declined by over 5%, according to the complaint.

4. April 9, 2025: Neogen reported:

A Q3 net loss of $11 million (or $0.05 per share), compared to a $2 million loss (or $0.01 per share) a year earlier;
A 3.4% revenue decline to $221 million, negatively impacted by integration-related issues;
Another reduction in fiscal year 2025 revenue and EBITDA outlook;
Increased capital expenditures, projected at $100 million due in part to a pull-forward of integration spending;
The resignation of CEO John Adent.

Following these announcements, Neogen’s stock fell by approximately 28%.

5. June 4, 2025: Neogen disclosed that it expected its EBITDA margin to drop to the “high-teens”, a significant decline from the 22% margin reported in the prior quarter. The Company attributed this shortfall to elevated inventory write-offs.

On this news, Neogen’s share price declined by more than 17%, according to the lawsuit.

The complaint asserts that these disclosures revealed the true extent of the post-merger challenges, which had been concealed or misrepresented during the Class Period, and that investors suffered substantial losses as a result of the defendants’ alleged misconduct.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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