October 19, 2010 16:51 ET

Milberg LLP Announces the Filing of a Securities Fraud Class Action Lawsuit Against Beckman Coulter, Inc. -- (NYSE: BEC)

NEW YORK, NY--(Marketwire - October 19, 2010) -  A class action lawsuit was filed on September 3, 2010, in the United States District Court for the Central District of California on behalf of purchasers of Beckman Coulter, Inc. ("Beckman" or the "Company") (NYSE: BEC) securities during the period from July 31, 2009, to July 22, 2010, (the "Class Period"). 

The complaint alleges that Beckman and certain of its officers violated the Securities Exchange Act of 1934 by not disclosing that it modified its troponin test kits without proper FDA approval, requiring a recall, and that it did not disclose the adverse financial impact from quality and compliance issues relating to its troponin test kits.

The FDA sent a warning letter on June 21, 2010, criticizing Beckman for selling an "adulterated," "misbranded," and "unapproved" version of its troponin test kits. On July 22, 2010, Beckman slashed its 2010 earnings outlook, blaming the recall. On July 23, 2010, shares of Beckman fell $12.59 per share, a decline of 21% on heavy volume.

If you purchased Beckman securities during the Class Period, you may, no later than November 2, 2010, file a motion with the Court to appoint you lead plaintiff. A lead plaintiff is a representative party that directs the litigation, and will be the movant that the Court determines to have the largest financial interest in the litigation with claims typical of those of other class members and the ability to adequately represent the class. Your share in any recovery will not be enhanced by serving as a lead plaintiff. You do not need to move for lead plaintiff to recover as an absent class member. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover as an absent class member. The complaint in this action was not filed by Milberg.

Founded in 1965, Milberg has offices in New York, Los Angeles, Tampa, and Detroit. The Firm has litigated landmark cases and recovered billions for shareholders and consumers. Our website has additional information: (

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Contact Information

  • Andrei V. Rado, Esq.
    Milberg LLP
    One Pennsylvania Plaza, 49th Fl.
    New York, NY 10119-0165
    Phone number: (800) 320-5081

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