NEW YORK, March 12, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Hayward Holdings, Inc. (NYSE: HAYW), Norfolk Southern Corporation (NYSE: NSC), and Veradigm Inc. (NASDAQ: MDRX). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Hayward Holdings, Inc. (NYSE: HAYW)
On July 28, 2022, Hayward Holdings revealed that it was expecting its channel partners to reduce its inventory on hand by approximately 4 to 6 weeks in the second half of 2022. Hayward Holdings further disclosed that it was reducing its 2022 guidance to reflect this inventory reduction.
On this news, the price of Hayward Holdings common stock fell by approximately 18%.
For more information on the Hayward Holdings investigation go to: https://bespc.com/cases/HAYW
Norfolk Southern Corporation (NYSE: NSC)
On February 3, 2023, a Norfolk Southern train derailed around East Palestine, Ohio, near the border with Pennsylvania, leaking toxins such as vinyl chloride, butyl acrylate, benzene residue, and other combustible liquids. Norfolk Southern faces numerous lawsuits and investigations from regulators and individuals.
For more information on the Norfolk Southern investigation go to: https://bespc.com/cases/NSC
Veradigm Inc. (NASDAQ: MDRX)
On February 28, 2023, Veradigm disclosed that it “detected certain internal control failures related to revenue recognition that have occurred over the prior six quarters, resulting in a mis-statement to reported revenues during those periods.” As a result, the Company reported that it expects “a reduction in revenue from continuing operations of approximately $20 million dollars in the aggregate from what it otherwise reported since the 3rd quarter of 2021 and expected to report for the 4th quarter of 2022.” The Company added that it is “continuing to evaluate the materiality of the mis-statement to determine if the full amount of this adjustment will flow through in the 4th quarter of 2022 or if prior periods will also require adjustment.” As a result, Veradigm revised its 2023 guidance downward and announced that it would not be filing its 2022 annual report on time.
On this news, Veradigm’s stock price fell $2.12 per share, or 12.76%, to close at $14.49 per share on March 1, 2023.
For more information on the Veradigm investigation go to: https://bespc.com/cases/MDRX
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.