LOS ANGELES, CA / ACCESSWIRE / September 27, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Orthofix Medical Inc. ("Orthofix" or "the Company") (NASDAQ:OFIX) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Orthofix announced on September 12, 2023, 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." Based on this news, shares of Orthofix fell by almost 25% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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SOURCE: The Schall Law Firm