Press release
Long-Term Investors in Orthofix Medical Inc. who lost money with NASDAQ: OFIX shares should contact the Shareholders Foundation
An investigation on behalf of investors in Orthofix Medical Inc. (NASDAQ: OFIX) shares over potential wrongdoing.
Investors who purchased shares of Orthofix Medical Inc. (NASDAQ: OFIX) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Orthofix Medical Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
Lewisville, TX based Orthofix Medical Inc. operates spine and orthopedics company in the United States, Italy, Germany, France, the United Kingdom, Brazil, and internationally. Orthofix Medical Inc. reported that its annual Total Revenue declined from $464.47 million in 2021 to $460.71 million in 2022, and that its Net Loss declined from $25.54 million in 2021 to $19.74 million in 2022.
On September 12, 2023, Orthofix Medical Inc. announced the termination of its CEO, CFO, and CLO. The Company stated, "The 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. These matters are unrelated to and do not impact the Company's strategy, results of operations or previously filed financial statements."
Shares of Orthofix Medical Inc. (NASDAQ: OFIX) declined from $21.60 per share on August 31, 2023, to as low as $10.54 per share on October 11, 2023.
Those who purchased shares of Orthofix Medical Inc. (NASDAQ: OFIX) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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