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Philadelphia, Pennsylvania--(Newsfile Corp. - September 18, 2024) - Berger Montague PC (https://api.newsfilecorp.com/redirect/NBD4QH4zvQ) advises investors that a securities fraud class action lawsuit has been filed against Orthofix Medical, Inc. ("Orthofix" or the "Company") (NASDAQ: OFIX) on behalf of purchasers of Orthofix securities between October 11, 2022 and September 12, 2023, inclusive (the "Class Period").
Investor Deadline: Investors who purchased or acquired Orthofix securities during the Class Period may, no later than October 21, 2024, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net or (215) 875-3048, or CLICK HERE (https://api.newsfilecorp.com/redirect/X3mLgsRAXa).
Orthofix, headquartered in Lewisville, Texas, is a global spine and orthopedics company that offers biologics, spinal hardware, bone growth therapies, and specialized orthopedic solutions, among other things, to healthcare professionals throughout the world.
According to the lawsuit, throughout the Class Period, Defendants failed to disclose to investors that Orthofix's management team was engaged in "repeated inappropriate and offensive conduct that violated multiple code of conduct requirements" and was "inconsistent with the Company's values and culture." As a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
On September 12, 2023, before the market opened, Orthofix disclosed that its Board's independent directors made the unanimous decision to terminate for cause Keith Valentine, John Bostjancic, and Patrick Keran from their roles as Chief Executive Officer, Chief Financial Officer, and Chief Legal Officer, respectively. The Board also requested that Mr. Valentine resign from the Board. The Company further disclosed that the decision followed an investigation conducted by independent outside legal counsel and directed and overseen by the Company's independent directors, and that the Board determined that each of the executives engaged in conduct that "violated multiple code of conduct requirements and was inconsistent with the Company's values and culture."
On this news, Orthofix's stock price fell $5.62 per share, or 30.2%, to close at $13.01 per share on September 12, 2023.
Learn More About the Lawsuit (https://api.newsfilecorp.com/redirect/DZPwXCM7yz)
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation (https://api.newsfilecorp.com/redirect/rvQOGsxBGw) since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contact: Andrew Abramowitz, Senior Counsel Berger Montague
(215) 875-3015 aabramowitz@bm.net
Peter Hamner Berger Montague PC
(215) 875-3048 phamner@bm.net
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223733
NEW YORK, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Orthofix Medical Inc. (NASDAQ: OFIX).
Shareholders who purchased shares of OFIX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/orthofix-loss-submission-form/?id=103168&from=3
CLASS PERIOD: October 11, 2022 to September 12, 2023
ALLEGATIONS: According to the filed complaint, defendants made false and/or misleading statements and/or failed to disclose that Orthofix’s management team was engaged in “repeated inappropriate and offensive conduct that violated multiple code of conduct requirements,” which was also “inconsistent with the Company’s values and culture.” This revelation was particularly egregious as it followed assurances that Orthofix’s management team consisted of individuals committed to conducting business in accordance with the highest ethical and legal standards, and further, that these individuals believed in and fostered a strong performance-based culture focused on integrity, collaboration, innovation, diversity, and corporate responsibility.
DEADLINE: October 21, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/orthofix-loss-submission-form/?id=103168&from=3
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of OFIX during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is October 21, 2024. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:The Gross Law Firm15 West 38th Street, 12th floorNew York, NY, 10018Email: dg@securitiesclasslaw.comPhone: (646) 453-8903
LOS ANGELES, CA / ACCESSWIRE / September 18, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Orthofix Medical Inc. ("Orthofix" or "the Company") (NASDAQ:OFIX) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between October 11, 2022, and September 12, 2023, inclusive (the "Class Period"), are encouraged to contact the firm before October 21, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Orthofix failed to disclose that certain members of its membership team engaged in repeated instances of offensive and inappropriate conduct. The Company's failure to inform investors of the truth became apparent on September 12, 2023, when its Board of Directors decided to terminate the offending members of the management team. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Orthofix, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT: The Schall Law Firm Brian Schall, Esq. 310-301-3335info@schallfirm.comwww.schallfirm.com
SOURCE: The Schall Law Firm
View the original press release on accesswire.comNEW YORK CITY, NY / ACCESSWIRE / September 18, 2024 / Bronstein, Gewirtz & Grossman, LLC a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Orthofix Medical Inc. ("Orthofix" or "the Company") (NASDAQ:OFIX) and certain current and former officers and directors of Orthofix and SeaSpine Holdings Corporation ("SeaSpine").
Class Definition
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired SeaSpine shareholders who acquired newly issued Orthofix common stock in exchange for SeaSpine shares pursuant to the January 5, 2023 stock-for-stock transaction (the "Merger") by which Orthofix merged with and acquired SeaSpine (the "Class"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/OFIX2.
Case Details
The Complaint alleges the offering materials for the Merger and related oral communications contained materially false and misleading statements and omissions concerning Orthofix's effective disclosure controls and procedures and internal controls over financial reporting and ethical compliance. The complaint alleges that, in truth, at the time of the Merger, Orthofix lacked adequate internal controls and its compliance and training programs and protocols were grossly deficient, resulting in: (1) lax vetting of incoming executive hires; (2) senior management and directors engaging in rampant harassment and other inappropriate misconduct in violation of the Company's purported ethical and professional standards; (3) prioritization of personal and financial incentives over ensuring that Orthofix and its management complied with applicable laws, regulations, and contracts; and (4) the Company's failure to ensure that its SEC filings and public disclosures were free of material misstatements. The lawsuit claims that with these and related misrepresentations and omissions in the offering materials and related oral communications, Defendants were able to complete the Merger. As the truth of Defendants' misrepresentations and omissions later only gradually and partially emerged, the price of Orthofix shares suffered sharp declines.
What's Next?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/OFIX2 or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Orthofix you have until November 8, 2024, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contact
Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Nathan Miller332-239-2660 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
View the original press release on accesswire.comNEW YORK CITY, NY / ACCESSWIRE / September 18, 2024 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Orthofix Medical Inc. ("Orthofix" or "the Company") (NASDAQ:OFIX) and certain of its officers.
Class Definition
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Orthofix securities between October 11, 2022, and September 12, 2023, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/OFIX.
Case Details
The Complaint alleges that throughout the Class Period, Defendants made misleading statements and omissions regarding the Company's business, financial condition, and prospects. Specifically, Defendants failed to disclose that certain of the Company's management team had engaged in repeated inappropriate and offensive conduct.
What's Next?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/OFIX or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Orthofix you have until October 21, 2024, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Nathan Miller, 332-239-2660 | info@bgandg.com
SOURCE: Bronstein, Gewirtz and Grossman, LLC
View the original press release on accesswire.comWhite Label
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