WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of NuVasive, Inc. (NASDAQ GS: NUVA)?
- Did you purchase your shares before October 22, 2008, or between October 22, 2008 and July 30, 2013, inclusive?
- Did you lose money in your investment in NuVasive, Inc.?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Southern District of California on behalf of all persons or entities that purchased the common stock of NuVasive, Inc. (“NuVasive” or the “Company”) (NASDAQ GS: NUVA) between October 22, 2008 and July 30, 2013, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of NuVasive during the Class Period, or purchased shares prior to the Class Period and still hold NuVasive, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/nuvasive-inc-nuva.
NuVasive is a medical device company focused on developing minimally disruptive surgical products and procedurally integrated solutions for the spine. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) the Company improperly submitted false claims to Medicare and Medicaid in violation of federal and state laws and regulations; and (2) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on July 30, 2013, the Company disclosed in its Form 10-Q for the second quarter 2013 that it had “received a federal administrative subpoena from the Office of the Inspector General of the U.S. Department of Health and Human Services in connection with an investigation into possible false and otherwise improper claims submitted to Medicare and Medicaid. The subpoena seeks discovery of documents for the period January 2007 through April 2013.”
On this news, shares in NuVasive dropped more than 12%, closing at $22.82 per share on July 31, 2013, from a close of $26.10 per share on July 30, 2013, on unusually heavy trading volume of over 2.2 million shares.
If you wish to serve as lead plaintiff, you must move the Court no later than October 28, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
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