class action filed for Orthofix Medical investors in September 2024

On September 16, 2024, Robbins LLP announced that a class action lawsuit had been filed on behalf of former SeaSpine Holdings Corporation shareholders who exchanged their shares for newly issued stock in Orthofix Medical Inc. during a merger that took place on January 5, 2023. The lawsuit alleges that Orthofix misled investors regarding its internal controls and compliance programs, which were reportedly inadequate. This lack of oversight allegedly led to serious issues, including inappropriate conduct by senior management and a failure to ensure accurate SEC filings. The complaint highlights that the company prioritized personal and financial incentives over compliance with laws and regulations, raising concerns about the ethical standards within Orthofix. Investors are encouraged to participate in the class action, with a deadline for lead plaintiff applications set for November 8, 2024. A lead plaintiff will represent the interests of the class in the litigation. Robbins LLP, a law firm specializing in shareholder rights, emphasizes that shareholders do not incur any fees or expenses as representation is on a contingency basis. The firm has a history of successfully litigating securities class actions and aims to hold company executives accountable for their actions. This class action reflects broader concerns about corporate governance and the responsibilities of management to maintain ethical standards and transparency. The outcome of this case could have significant implications for both the investors involved and the future practices of Orthofix Medical Inc.