Philadelphia, Pennsylvania--(Newsfile Corp. - January 24, 2024) - A securities fraud class action complaint alleges that Bioventus (NASDAQ: BVS), through certain of its officers and directors, made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Complaint alleges that the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (i) Bioventus suffered from significant liquidity issues; (ii) the Company's rebate practices were unsustainable; (iii) accordingly, Defendants overstated the Company's business and financial prospects; (iv) Bioventus maintained deficient disclosure controls and procedures and internal control over financial reporting with respect to the timely recognition of quarterly rebates; (v) all the foregoing increased the risk that the Company would be forced to recognize a significant non-cash impairment charge, could not timely file one or more of its financial reports, would have to amend one or more of its financial statements, and could not meet its financial obligations as they came due; and (vi) as a result, the Offering Documents and Defendants' public statements were materially false and/or misleading and failed to state information required to be stated therein.
Current Bioventus shareholders who have held Bioventus shares since on or shortly after its February 12, 2021 IPO can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever.
If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/bioventus-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com or Mia Heller at mheller@grabarlaw.com or call us at 267-507-6085. $BVS #Bioventus
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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
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