OKLAHOMA CITY--(EON: Enhanced Online News)--The law firm of Federman & Sherwood has initiated an investigation into Orthofix International N.V. (NASDAQ: OFIX) with respect to possible violations of federal securities laws.
“the FDA just transferred the BGS down classification process to the specific department responsible for handling the down classification (the department of Orthopedics).”
Orthofix International N.V. (“Orthofix”) is a medical device company that provides reconstructive and regenerative orthopedic and spine solutions to physicians worldwide and is headquartered in Lewisville, Texas. Federman & Sherwood’s investigation focuses on disclosures made by Orthofix and whether certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On December 16, 2016, SeekingAlpha.com published a report that revealed the “FDA is actively moving to ‘down classify’ BGS (Bone Growth Stimulators) from Class III to Class II, allowing cheap competition to flood in, stealing revenues and crushing margins.” The report further stated that as of October 1, 2016 “the FDA just transferred the BGS down classification process to the specific department responsible for handling the down classification (the department of Orthopedics).” On this news, shares of Orthofix declined sharply during intraday trading on December 16, 2016.
If you purchased Orthofix International N.V. securities and have information to assist in our investigation, or have any questions or concerns regarding this notice or preservation of your rights, please contact our office. Federman & Sherwood has extensive nationwide experience in representing investors in securities, derivative and merger-related shareholder class actions, and has been appointed as lead counsel in multiple complex cases.