Brower Piven, A Professional Corporation announces that a class action
lawsuit has been commenced in the United States District Court for the
Southern District of New York on behalf of purchasers of Orthofix
International N.V. (“Orthofix” or the “Company”) (NasdaqGS: OFIX) common
stock during the period between May 5, 2011 and July 29, 2013, inclusive
(the “Class Period”).
If you have suffered a net loss from investment in Orthofix
International N.V. common stock purchased on or after May 5, 2011, and
held through the revelation of negative information on July 29, 2013, as
described below, at no cost to you, you may obtain additional
information about this lawsuit and your ability to become a lead
plaintiff by contacting Brower Piven at www.browerpiven.com,
by email at hoffman@browerpiven.com,
by calling 410/415-6616, or at Brower Piven, A Professional Corporation,
1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower
Piven have combined experience litigating securities and class action
cases of over 60 years.
No class has yet been certified in the above action. Members of the
Class will be represented by the lead plaintiff and counsel chosen by
the lead plaintiff. If you wish to choose counsel to represent you and
the Class, you must apply to be appointed lead plaintiff no later than
October 14, 2013 and be selected by the Court. The lead plaintiff will
direct the litigation and participate in important decisions including
whether to accept a settlement and how much of a settlement to accept
for the Class in the action. The lead plaintiff will be selected from
among applicants claiming the largest loss from investment in the
Company during the Class Period.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period that certain revenues recognized during 2011 and
2012 should not have been recognized or should not have been recognized
during the periods in which they were recognized, and that Orthofix’s
previously issued consolidated financial statements for the fiscal years
ended December 31, 2011 and December 31, 2012 (as well as the interim
quarterly periods within such years), and for the quarterly period ended
March 31, 2013, should not be relied upon. According to the Complaint,
following the Company’s July 29, 2013 disclosure that it was delaying
the release of its financial results for the second quarter of 2013 and
that additional time was needed to review matters relating to revenue
recognition for prior periods, the value of Orthofix shares declined
significantly.
If you choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other counsel of
your choice. You need take no action at this time to be a member of the
class.
Copyright Business Wire 2013