Orthofix Medical, Inc.
Case Overview
26 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 10/21/2024 |
Status: | Status: Investigating |
Company Name: | Company Name: Orthofix Medical, Inc. |
Court: | Court: Eastern District of Texas |
Case Number: | Case Number: 2:24cv00690 |
Class Period: | Class Period: 10/11/2022 - 09/12/2023 |
Ticker: | Ticker: OFIX |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
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.
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.
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.