3M Investors Receiving Neogen Shares in Merger Investigation

Girard Sharp Law Firm is investigating former or current investors of 3M Company who received shares of Neogen Corporation after Neogen's acquisition of 3M's Food Safety Business in September 2022. The investigation focuses on potential securities claims due to Neogen's reported net loss of $456.3 million and material weaknesses in its internal control over financial reporting. Neogen's share price has declined by 75% since the acquisition.

Girard Sharp LLP, a national investment, securities, and consumer class action firm, is investigating potential securities claims on behalf of former or current investors of 3M Company who received shares of Neogen Corporation in connection with Neogen’s acquisition of 3M’s Food Safety Business on September 1, 2022 [1].

Neogen Corporation, a Michigan-based company, manufactures and markets a diverse line of products and services dedicated to food and animal safety. The acquisition of 3M’s Food Safety Division was expected to generate significant synergies and improve financial metrics for Neogen [1]. However, the integration has faced numerous challenges.

On January 10, 2025, Neogen announced its preliminary 2Q25 financial results, reporting a net loss of $456.3 million due to a non-cash goodwill impairment related to the 3M Food Safety Division acquisition. Additionally, the company reported material weaknesses in its internal control over financial reporting as of November 30, 2024 [1]. These disclosures, along with subsequent financial results, have raised concerns among investors.

In April 2025, Neogen reported a net loss of $11 million and a 3.4% drop in revenue to $221 million for the 3Q25 period. The company also announced that its CEO, John Adent, would be stepping down [1]. Since the acquisition, Neogen’s share price has declined by 75% [1].

Girard Sharp’s investigation focuses on whether the Offering Materials may have included misrepresentations and omissions regarding Neogen’s and 3M’s financial conditions and the Merger. If you are a former or current 3M investor with losses, please fill out this form, email apolk@girardsharp.com, or call (866) 981-4800 for a free consultation [1].

References:
[1] https://www.morningstar.com/news/globe-newswire/9506981/investigation-notice-girard-sharp-law-firm-encourages-former-or-current-3m-company-nysemmm-investors-who-received-neogen-corporation-nasdaqneog-shares-in-connection-with-neogen-corporations-acquisition-of-3m-companys-food-safety-business-in-september-2022-to-contact-the-firm
[2] https://www.globenewswire.com/news-release/2025/08/05/3127942/0/en/Neogen-Corporation-Investors-Please-contact-the-Portnoy-Law-Firm-to-recover-your-losses-September-16-2025-Deadline-to-file-Lead-Plaintiff-Motion.html
[3] https://www.ainvest.com/news/corporate-integration-risk-driven-growth-lessons-neogen-3m-acquisition-debacle-2508/