NEW YORK CITY, NY / ACCESSWIRE / October 16, 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 Miller
332-239-2660 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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