NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind 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.
What You May Do
If you purchased shares of Orthofix and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-ofix/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 21, 2024.
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.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
