Trinity Biotech plc (ADR) (NASDAQ:TRIB) Investor Investigation Over Potential Securities Laws Violations Announced

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Company Name(s): 
Trinity Biotech
Affected Securities: 

October 11, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Trinity Biotech plc (ADR) (NASDAQ:TRIB) shares over potential securities laws violations by Trinity Biotech plc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Trinity Biotech plc (ADR) (NASDAQ:TRIB) concerning whether a series of statements by Trinity Biotech plc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

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.