Alphatec Hit With Securities Suit Over French Buy

Law360, New York (August 11, 2010, 12:38 PM EDT) -- Shareholders of Alphatec Holdings Inc., a spinal medical device company that lost $200 million in stock value after announcing disappointing quarterly earnings Aug. 5, have filed a class action alleging the firm misled the public about its recent acquisition of a French medical company.

The lawsuit, filed Tuesday in the U.S District Court for the Southern District of California, says Alphatec was recklessly optimistic about the company's fortunes during a public offering after it purchased Scient'x Groupe SAS in an all-stock transaction valued at about $118...
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