Neogen Corporation

Background

Company Name	Neogen Corporation
Stock Symbol	NEOG
Class Period	January 05, 2023 to June 03, 2025
Lead Plaintiff Motion Deadline	September 16, 2025

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If you suffered a loss on your Neogen Corporation investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

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Shares Purchased

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Additional Comments

Background

On January 10, 2025, Neogen disclosed that its second quarter GAAP net income was significantly negative due to a $461 million non-cash goodwill impairment charge related to its acquisition of the 3M Company (“3M”). The Company also revised its full year outlook, cutting revenue and EBITDA guidance. Further, the Company also revealed that as of November 30, 2024, it had material weaknesses in its internal control over financial reporting.

On this news, Neogen’s stock price fell $0.71, or 5.4%, to close at $12.36 per share on January 10, 2025, thereby injuring investors.

Then, on April 9, 2025, Neogen disclosed that quarterly revenue had fallen 3.4% due, in part, to integration issues. The Company also further cut its full year revenue and EBITDA outlook and revealed that its CEO would be stepping down.

On this news, Neogen’s stock price fell $2.02, or 28.7%, to close at $5.02 per share on April 9, 2025.

Then, on June 4, 2025, Neogen disclosed that, while its fourth quarter fiscal 2025 financial results would be “materially approximate [to] where [the Company] had put [its] guide,” it “would expect EBITDA margin to probably be around the high-teens” compared to the previous quarter’s 22%. The Company explained that EBITDA margins would likely “be in the low-20s, if not for the elevated inventory write-offs.”

On this news, Neogen’s stock price fell $1.04, or 17.3%, to close at $4.96 per share on June 4, 2025, thereby injuring investors further.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the integration with 3M was plagued with inefficiencies that Defendants knew would necessitate a goodwill impairment and would impact capital expenditures, revenues, and EBITDA margins; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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