SAN DIEGO--(BUSINESS WIRE)--Robbins LLP reminds investors that a shareholder filed a class action on behalf of former SeaSpine Holdings Corporation shareholders that purchased or otherwise acquired newly issued Orthofix Medical Inc. (NASDAQ: OFIX) stock in exchange for SeaSpine shares pursuant to the January 5, 2023 stock-for-stock transaction by which Orthofix merged with and acquires SeaSpine. Orthofix is a global spine and orthopedics company that offers biologics, spinal hardware, bone growth therapies, and specialized orthopedic solutions, among other things, to healthcare professionals throughout the world.
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The Allegations: Robbins LLP is Investigating Allegations that Orthofix Medical Inc. (OFIX) Misled Investors in its Offering Materials in Connection with its Acquisition of SeaSpine Holdings Corporation
According to the complaint, at the time of the merger, defendants failed to disclose that Orthofix lacked adequate internal controls and its purported compliance and training programs and protocols were grossly deficient, all of which resulted in: lax vetting of incoming executive hires; senior management and directors engaging in rampant harassment and other inappropriate misconduct in violation of the Company’s purported ethical and professional standards; prioritization of personal and financial incentives over ensuring that Orthofix and its management complied with applicable laws, regulations, and contracts; and the Company’s failure to ensure that its SEC filings and public disclosures were free of material misstatements.
What Now: You may be eligible to participate in the class action against Orthofix Medical Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by November 8, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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