NEW YORK, NY / ACCESSWIRE / June 27, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Stevanato Group S.p.A. ("Stevanato") (NYSE:STVN) concerning possible violations of federal securities laws.
On May 9, 2024, Stevanato announced 1Q24 financial results that were below expectations and included a significant earnings miss for the quarter. The Company blamed the miss on higher than anticipated "industry-wide vial destocking" with no expected improvement in vial demand and lowered its guidance for fiscal year 2024. Analysts commenting on the lowered guidance mention "a mismatch of management visibility and the expectations" set by the Company relative to the reality of the market.
Following this news, Stevanato's stock price fell by $5.81 per share, or approximately 22% to close at $21.10 per share.
To obtain additional information, go to:
https://zlk.com/pslra-1/stevanato-lawsuit-submission-form?prid=87762&wire=1
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212)363-7500
Fax: (212)363-7171
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SOURCE: Levi & Korsinsky, LLP