Orthofix Class Action Lawsuit - OFIX
Case Summary
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The Orthofix class action lawsuit seeks to represent purchasers or acquirers of Orthofix Medical Inc. (NASDAQ: OFIX) common stock between October 11, 2022 and September 12, 2023, inclusive (the “Class Period”). Captioned Bernal v. Orthofix Medical Inc., No. 24-cv-00690 (E.D. Tex.), the Orthofix class action lawsuit charges Orthofix and certain of Orthofix’s former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Orthofix class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Orthofix class action lawsuit must be filed with the court no later than October 21, 2024.
CASE ALLEGATIONS: Orthofix operates as a spine and orthopedics company in the United States and internationally.
The Orthofix class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that Orthofix falsely assured the market 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.
The Orthofix class action lawsuit further alleges that on September 12, 2023, Orthofix announced the appointment of an interim CEO, interim CFO, and interim CLO, effective immediately, following the “unanimous decision by the Board’s independent directors to terminate for cause Keith Valentine, John Bostjancic and Patrick Keran from those respective roles.” The complaint further alleges that Orthofix revealed that “the Board determined that each of these executives engaged in repeated inappropriate and offensive conduct that violated multiple code of conduct requirements and was inconsistent with the Company’s values and culture.” On this news, the price of Orthofix fell more than 30%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Orthofix common stock during the Class Period to seek appointment as lead plaintiff in the Orthofix class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Orthofix class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Orthofix class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Orthofix class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.