Wolf Haldenstein Adler Freeman & Herz LLP is investigating potential securities fraud claims against Orthofix Medical Inc.
NEW YORK, Oct. 12, 2023 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein"), a preeminent national shareholder rights litigation firm, announces that is investigating claims on behalf of investors of Orthofix Medical Inc. ("Orthofix" or the "Company") (NASDAQ: OFIX).
All investors who purchased shares and incurred losses are advised to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the potential action on our website, www.whafh.com.
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Wolf Haldenstein is investigating whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
On September 12, 2023, Orthofix issued a press release announcing leadership changes, including the appointment of an Interim Chief Executive Officer, Interim Chief Financial Officer, and Interim Chief Legal Officer. The press release stated that "[t]he appointments are effective immediately and follow
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 Board also requested that Mr. Valentine resign from the Board."
Orthofix further stated that "[t]he Board's decision follows an investigation conducted by independent outside legal counsel and directed and overseen by the Company's independent directors. As a result of the investigation, 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, Orthofix's stock price fell $5.62 per share, or 30.17%, to close at $13.01 per share on September 12, 2023.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
