Carolyn Muyskens
December 26, 2025
7 Pension Funds Picked To Lead Neogen Investor Class
4 min
AI-made summary
- A Michigan federal judge appointed a group of seven pension funds as lead plaintiff in a securities class action against Neogen Corp., finding they had the largest financial interest with $3.7 million in claimed losses
- The funds allege Neogen concealed financial difficulties following its 2022 merger with a 3M division
- The court also named Saxena White PA and Grant & Eisenhofer PA as lead counsel
- Neogen’s stock price fell 79% during the class period, erasing over $4 billion in market value.
A Michigan federal judge Wednesday selected a group of pension funds to serve as a lead plaintiff for Neogen investors alleging the company hid postmerger financial difficulties following a combination with a division of manufacturing giant 3M.
U.S. District Judge Hala Y. Jarbou said in an order the seven pension funds appointed as lead plaintiff collectively have a larger financial stake in the litigation than the other lead plaintiff candidate, the IAM National Pension Fund.
She also named Saxena White PA and Grant & Eisenhofer PA lead counsel for the plaintiffs at the pension funds' request.
Together, the seven funds — Operating Engineers Construction Industry and Miscellaneous Pension Fund, City of Miami Fire Fighters' & Police Officers' Retirement Trust, Metropolitan Employee Benefit System, City of Orlando Firefighters' Pension Fund, City of Orlando Police Officers' Pension Fund, City of Orlando General Employees' Pension Fund and West Palm Beach Firefighters' Pension Fund — have asserted $3.7 million in losses, surpassing IAM's $1.7 million loss claim, according to the decision.
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