NuVasive Medicare Investigation Spurs Securities Class Action

Law360, Los Angeles (August 28, 2013, 8:23 PM EDT) -- A putative class of investors in spine surgical device developer NuVasive Inc. accused the company in California federal court Wednesday of concealing problems with its Medicare and Medicaid payments, leading to a 12 percent drop in the company’s stock that cost investors at least $146 million.

The company repeatedly assured investors it was complying with federal laws about claims to Medicare and Medicaid reimbursements, the class led by Danny Popov alleges in the complaint. But the company revealed in its July 30 quarterly report that it...
To view the full article, register now.