Orthofix Medical Inc. (OFIX) Investigation: Bronstein, Gewirtz & Grossman, LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings
News provided byACCESSWIRE
Sep 19, 2023, 5:30 PM ET
NEW YORK, NY / ACCESSWIRE / September 19, 2023 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Orthofix Medical Inc. ("Orthofix" or "the Company") (NASDAQ:OFIX). Investors who purchased Orthofix securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/ofix.
The investigation concerns whether Orthofix has violated federal securities laws.
On September 12, 2023, Orthofix issued a press release announcing leadership changes, including the appointment of an Interim Chief Executive Officer, Interim Chief Financial Officer, and Interim Chief Legal Officer.The press release stated that "[t]he appointments are effective immediately and follow the unanimous decision by the Board's independent directors to terminate for cause Keith Valentine, John Bostjancic and Patrick Keran from those respective roles.The Board also requested that Mr. Valentine resign from the Board."Orthofix further stated that "[t]he 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."On this news, Orthofix's stock price fell $5.62 per share, or 30.17%, to close at $13.01 per share on September 12, 2023.
If you are aware of any facts relating to this investigation or purchased Orthofix securities, you can assist this investigation by visiting the firm's site: bgandg.com/ofix . You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
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SOURCE: Bronstein, Gewirtz & Grossman, LLC
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