Orthofix Medical Faces Legal Actions: Key Updates for Investors

Author: Caleb Price Updated: 09-13-2024 10:55 PM

Understanding the Orthofix Medical Class Action Lawsuit

Orthofix Medical, Inc. (NASDAQ: OFIX) is currently at the center of a significant class action lawsuit. Investors who purchased shares between specific dates have a crucial deadline approaching. Legal representatives for the affected investors are reminding them of their rights and options in this case.

Who is Kahn Swick & Foti, LLC?

Kahn Swick & Foti, LLC (KSF), a boutique law firm specializing in securities litigation, has stepped forward to represent investors affected by the issues surrounding Orthofix. Under the leadership of Lewis Kahn, a managing partner and former Attorney General, KSF has a track record of fighting for investor rights against corporate malfeasance.

Deadline for Investors

Investors who have incurred losses exceeding $100,000 from their investment in Orthofix are being urged to act quickly. The deadline to file a lead plaintiff application is fast approaching, set for October 21. Those interested in assuming this role should do so promptly, as it will enable them to potentially direct the course of the lawsuit.

Details of the Allegations

The lawsuit alleges that during the class period, which spans from October 11, 2022, to September 12, 2023, Orthofix and its executives failed to disclose critical information to shareholders. These omissions have serious implications for investors, as they impacted stock prices and ultimately led to financial losses.

Events Leading to the Lawsuit

On September 12, 2023, Orthofix appointed new executives after removing several key figures from their positions due to alleged inappropriate conduct. The board's decision, taken following an independent investigation, raised concerns among investors and resulted in a dramatic drop in share price. Following the announcement, Orthofix's stock fell over 30%, highlighting the profound impact of corporate governance on investor confidence.

What Should Affected Investors Do?

If you bought shares in Orthofix during the class period and wish to discuss your legal rights related to this lawsuit, you might consider reaching out to KSF. They offer a no-obligation consultation to help assess your situation and the potential impact of the class action on your investments.

How to Reach Kahn Swick & Foti, LLC

For those wanting to learn more or explore their options, KSF provides contact information for Lewis Kahn, who can be reached toll-free. Whether through phone or email, seeking legal advice is a critical step for all affected investors in navigating this complex situation.

About Orthofix Medical

Orthofix is a global medical device company specializing in the development of innovative products for the spine and extremities. The company's mission is centered around enhancing quality of life for patients through advanced medical technologies. However, this ongoing legal issue challenges that mission, and how the company addresses these allegations will be essential in reinstating investor confidence.

Frequently Asked Questions

What is the class action lawsuit against Orthofix about?

The lawsuit claims that Orthofix failed to disclose important information that negatively impacted shareholders during a specific period.

Who can file a claim in the class action?

Investors who purchased shares of Orthofix between October 11, 2022, and September 12, 2023, and suffered losses of over $100,000 are eligible to file as lead plaintiffs.

What is the deadline to apply for lead plaintiff status?

Investors must submit their applications by October 21 to be considered for lead plaintiff status in the class action.

Who is representing the investors in this lawsuit?

Kahn Swick & Foti, LLC, led by Lewis Kahn, is representing the investors in the class action against Orthofix Medical.

How can I contact Kahn Swick & Foti, LLC?

Affected investors can contact the firm toll-free for consultations regarding their legal rights and the impacts of the lawsuit.

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