The firm represents a class of shareholders who alleged that the
lab equipment maker, Beckman Coulter, Inc., did not disclose
product quality and regulatory issues that hurt the company's stock
price in a timely fashion. Specifically, the plaintiffs
alleged that Beckman failed to disclose that modifications to
its troponin test kits violated FDA regulations. The troponin
test kits are used to detect potential heart disorders. When
Beckman revealed this information in March 2010, the stock price
dropped. Two months later, Beckman stated it would submit
modifications to the FDA by the first half of 2011. This
announcement, too, caused Beckman's stock price to drop.
Plaintiffs requested the federal court approve a $5.5 million
settlement in September 2011.