NEW ORLEANS, Sept. 25, 2024 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until October 21, 2024 to file lead plaintiff applications in a securities class action lawsuit against Orthofix Medical, Inc. (NasdaqGS: OFIX), if they purchased the Company’s shares between October 11, 2022, and September 12, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of Texas.
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Orthofix investors should visit us at https://claimsfiler.com/cases/nasdaq-ofix-1/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Orthofix and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On September 12, 2023, the Company 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 [President and CEO] Keith Valentine, [CFO] John Bostjancic and [CLO] Patrick Keran from those respective roles” due to an independent investigation that revealed 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’s shares fell $5.62 per share, or over 30%, to close at $13.01 per share on September 13, 2023, on unusually heavy volume.
The case is Bernal v. Orthofix Medical, Inc., et al., No. 2:24-cv-00690.
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