Rigrodsky & Long, P.A. Announces Investigation of Integra LifeSciences Holdings Corp. for Possible Violations of the Federal ...
January 10 2012 - 6:17PM
Business Wire
Rigrodsky & Long, P.A. announces that it has launched an
investigation on behalf of the shareholders of Integra LifeSciences
Holdings Corporation (“Integra LifeSciences” or the “Company”)
(Nasdaq: IART), with respect to whether the Company and certain of
its officers and directors have possibly violated the federal
securities laws.
Click here to learn more:
http://investigations.rigrodskylong.com/integra-lifesciences-holdings-corporation-iart/.
Integra LifeSciences develops, manufactures, and markets
surgical implants and medical instruments for neurosurgery,
extremity reconstruction, orthopedics, and general surgery.
On January 5, 2012, after the close of market, Integra
LifeSciences issued a press release announcing its fourth quarter
and full year 2011 financial results wherein the Company announced
that it received a warning letter from the United States Food and
Drug Administration (“FDA”) related to quality systems and
compliance issues at its collagen manufacturing facility located in
Plainsboro, New Jersey. The letter resulted from an inspection held
at that facility in August 2011. The Company also announced it
expects total revenues in the fourth quarter to be approximately
$202 million to $203 million. These fourth quarter 2011 revenues
are approximately 3% below the low end of previously issued
guidance. Integra LifeSciences stated that the revenue shortfall
resulted from inventory reduction initiatives by its instruments
distributors, weakness outside of the U.S., and weaker than
expected sales of its domestic Extremity Reconstruction
products.
This news caused Integra LifeSciences stock to fall
approximately 20% on January 6, 2012 to close at $24.49 per share,
down from its previous day’s close of $30.50 per share.
If you are an Integra LifeSciences shareholder, if you have
information or would like to learn more about our investigation, or
if you wish to discuss these matters or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Timothy J. MacFall,
Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky
& Long, P.A., 919 N. Market Street, Suite 980, Wilmington,
Delaware 19801, by telephone at (888) 969-4242, or by e-mail to
info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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