We are investigating ICU Medical, Inc. (ICUI) (“ICU” or the “Company”) for potential violations of the federal securities laws.
On May 8, 2020, ICU announced that the Company was “voluntarily recalling one single lot of Lactated Ringer’s Injection, USP,” advising that “[t]he products are being recalled to the hospital/user level due to the presence of particulate matter identified as iron oxide” and cautioning that “[a]dministration of a drug product that contains metal particulate matter could result in adverse events ranging from inflammation at the site of injection to more serious events that could include the formation of a blood clot obstructing the flow of blood which could lead to end-organ damage or death.” On this news, ICU’s stock price fell $19.26 per share, or 8.86%, to close at $198.10 per share on May 8, 2020.