OFIX DEADLINE REMINDER: Berger Montague Reminds Investors of Orthofix Medical, Inc. (OFIX) meets an important deadline for class actions

Philadelphia, Pennsylvania–(Newsfile Corp. – September 27, 2024) – Berger Montague PC announces that a class action lawsuit has been filed in the US District Court for the Eastern District of Texas on behalf of those who founded Orthofix Medical, Inc. have taken over. “Orthofix” or the “Company”) (NASDAQ: OFIX) securities.

If you have suffered losses as a result of your investment in Orthofix (NASDAQ: OFIX) and would like to learn more about a possible recovery, CLICK HERE.

The lawsuit was filed against Orthofix on behalf of purchasers of Orthofix securities between October 11, 2022 and September 12, 2023 (the “Class Period”).

The deadline for investors who purchased or acquired Orthofix securities during the Class Period to request appointment as lead plaintiff, class representative, is October 21, 2024.

Headquartered in Lewisville, Texas, Orthofix is a global spine and orthopedics company offering biologics, spine hardware, bone growth therapies and specialty orthopedic solutions to healthcare professionals worldwide.

According to the lawsuit, Defendants failed to disclose to investors throughout the Class Period that Orthofix’s management team engaged in “repeated inappropriate and offensive conduct that violated multiple code of conduct requirements” and was “contrary to the Company’s values and culture.” As a result, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and/or lacked a reasonable basis at all material times.

On September 12, 2023, before the market opened, Orthofix announced that the independent directors of the Board of Directors had made the unanimous decision to terminate Keith Valentine, John Bostjancic and Patrick Keran from their positions as Chief Executive Officer, Chief Financial Officer and Chief Legal. Officer, respectively. The Board of Directors has also requested that Mr. Valentine resign from the Board of Directors. The company further disclosed that the decision followed an investigation conducted by an independent external legal advisor and directed and monitored by the company’s independent directors, and that the Board of Directors determined that each of the executives was guilty committed behavior that “violated multiple rules of conduct and was inconsistent. with the company’s values and culture.”

On this news, Orthofix’s stock price fell $5.62 per share, or 30.2%, to close at $13.01 per share on September 12, 2023.

For additional information or to learn how you can participate in this lawsuit, please contact Berger Montague: Andrew Abramowitz at [email protected] or (215) 875-3015, or Peter Hamner at [email protected] or (215) 875-3048, or CLICK HERE.

A lead plaintiff is a representative party acting on behalf of all class members in directing the litigation. The lead plaintiff is generally the investor or small group of investors that has the greatest financial interest and is also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class, and these attorneys, if approved by the court, are lead or class counsel. However, your ability to share in any recovery is not affected by the decision whether or not to serve as lead plaintiff. It is not necessary to communicate with counsel to participate or participate in the recovery achieved in this case. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.

Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, DC, San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has been representing individual and institutional investors for more than five years. decades and serves as chief counsel in courts throughout the United States.