Orthofix Reaches $11M Settlement in Securities Action

Law360, New York (December 8, 2015, 4:39 PM EST) -- Medical device company Orthofix International NV has agreed to pay $11 million to settle a New York federal court investor class action alleging that the company glossed over internal issues before an eventual earnings restatement, according to a filing in New York federal court.

The investors filed a motion Monday seeking preliminary approval of the deal. The suit accuses Orthofix and several of its executives of violating the Securities Exchange Act of 1934 by neglecting their duty to promptly disseminate accurate information on the company's financial condition and performance.

The deal follows "a substantial investigation preceding the filing of two detailed...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!