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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.
In order to be eligible to join the STVN class action lawsuit, you must have incurred a loss on shares of Stevanato purchased during the class period listed above.
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