Key Takeaways:
– A class action lawsuit has been filed on behalf of former SeaSpine shareholders against Orthofix Medical.
– The complaint alleges Orthofix misrepresented its internal processes resulting in several breaches.
– Robbins LLP is accepting applications for a lead plaintiff until November 8, 2024.
– Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees.
Legal Proceedings Underway for Orthofix Medical
Orthofix Medical Inc., a leading company in the global spine and orthopedics industry, is under legal scrutiny following a class action lawsuit. Robbins LLP, a highly regarded legal firm specializing in shareholder rights litigation, brought the suit forward on behalf of former shareholders of SeaSpine Holdings Corporation.
The Allegations Unravelled
Orthofix stands accused of misleading investors with its offering materials during the acquisition and merger with SeaSpine. The allegations stem from significant concerns about the company’s internal controls and protocols. These assertions gain weight as the company is alleged to have prioritized personal and financial gains ahead of adhering to applicable laws, regulations, and contracts.
Misrepresentations are also reflected in their hiring process, with apparently insufficient checks on incoming executives. The alleged misconduct is clear in the charge that senior management and directors have engaged in widespread harassment, violating company standards and professional ethics. Additionally, the claim points to the company’s inability to ensure that its SEC filings and public disclosures were free of material misstatements.
Role of the Lead Plaintiff
For shareholders wishing to take more of an active role in this litigation, there’s an opportunity to serve as the lead plaintiff in the class action lawsuit. The deadline for application submissions is November 8, 2024. The lead plaintiff’s role is vital; representing the class members, they help guide the course of the litigation process.
The cost to you as a shareholder involved in the lawsuit is nil. Robbins LLP operates on a contingency fee basis, meaning they take a portion of any recovered losses, but if the case does not win, you pay no fees. Fear not the burden of legal fees diverting from possible recoveries.
How to Get Involved
Despite not wanting to be involved directly in the litigation, there is still potential eligibility for recovery. Non-participating individuals are categorized as absent class members but may still share in the potential recovery.
Robbins LLP: Champion of Shareholder Rights
Robbins LLP is an expert in the field of shareholder rights litigation. Their relentless pursuit in holding executives accountable for their actions has garnered them significant recognition in the industry. Since 2002, the firm has been instrumental in recovering over $1 billion in losses for shareholders.
Staying Informed: Stock Watch
Stay ahead of corporate misconduct through Stock Watch, a tool that offers free alerts about ongoing cases and settlements. These alerts are instrumental in helping shareholders stay informed about potential malpractices by executives in their investment companies.
In Conclusion
The filed complaint against Orthofix brings a serious matter to fruition. If allegations are proven, it is not just a story of internal misconduct and lax processes, but a deceit perpetrated on their shareholders. As the proceedings move forward, affected shareholders have the comfort of Robbins LLP’s formidable experience for representation.
Disclaimer: The content of this article is based on available information and does not constitute legal advice.