An investigation was announced for investors in NASDAQ:TRIB concerning possible breaches of fiduciary duties by certain Trinity Biotech directors.
The investigation by a law firm concerns whether certain Trinity Biotech officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Trinity Biotech plc (ADR) reported that its annual Total Revenue declined from $104.87 million in 2014 to $100.19 million in 2015 and that its net Income increased from $17.21 million to $21.80 million.
Shares of Trinity Biotech plc (ADR) (NASDAQ:TRIB) reached as high as $27.81 per share in early 2014.
On On October 4, 2016, pre-market, Trinity Biotech plc announced that it was withdrawing its 510(k) premarket notification submission for the Meritas Troponin-I Test and Meritas Point-of-Care Analyzer on the advice of the U.S. Food and Drug Administration. Citing the application withdrawal, Trinity Biotech plc also stated it would reduce its spending from $9 million a year to $1.5 million, and that it would close a Swedish facility, eliminating 40 jobs.
Shares of Trinity Biotech plc (ADR) (NASDAQ:TRIB) declined from $13.15 per share on October 3, 2016 to as low as $5.76 per share on October 4, 2016.
On March 29, 2017, NASDAQ:TRIB shares closed at $5.89 per share.
Those who purchased NASDAQ:TRIB shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego
The post Investor Investigation over potential Wrongdoing at Trinity Biotech plc (ADR) (NASDAQ:TRIB) appeared first on GroundReport.
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