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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.