NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Texas on behalf of those who acquired Orthofix Medical, Inc. (“Orthofix” or the “Company”) (NASDAQ: OFIX) securities during the period of October 11, 2022 through September 12, 2023, inclusive (“the Class Period”). Investors have until October 21, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
[Click here to learn more about the class action]
On September 12, 2023, Orthofix announced the unanimous decision by its Board’s independent directors to terminate and replace the three members of the Company’s management team, after the results of an investigation by independent outside legal counsel led the Board to determine that “each of th[o]se executives engaged in repeated inappropriate and offensive conduct.” On this news, the price of Orthofix shares declined $5.62 per share, or approximately 30%, from $18.63 on September 11, 2023 to close at $13.01 per share on September 12, 2023.
The Class Action alleges that Orthofix failed to disclose that certain of the Company’s management team had engaged in repeated inappropriate and offensive conduct.
If you purchased or otherwise acquired Orthofix securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
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