Kaskela Law LLC Announces Shareholder Class Action Lawsuit Filed Against RTI Surgical Holdings, Inc. (RTIX) & Encourages Inve...
March 23 2020 - 9:10PM
Business Wire
Kaskela Law LLC announces that a shareholder class action
lawsuit has been filed against RTI Surgical Holdings, Inc. (“RTI
Surgical” or the “Company”) (NASDAQ: RTIX) on behalf of investors
who purchased shares of the Company’s stock between March 7,
2016 and March 16, 2020, inclusive (the “Class Period”).
Investors who suffered an investment loss in excess of $50,000
investing in RTI Surgical’s securities are encouraged to contact
Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585 or
(888) 715 – 1740, or online at
http://kaskelalaw.com/case/rti-surgical/, to discuss this action
and their legal rights and options.
On March 16, 2020, RTI Surgical disclosed that its Audit
Committee was “in the process of conducting an internal
investigation of current and prior period matters relating to the
Company’s revenue recognition practices regarding the timing of
revenue with respect to certain contractual arrangements, primarily
with OEM customers, including the accounting treatment, financial
reporting and internal controls related to such arrangements.”
Additionally, the Company disclosed that the investigation “was
precipitated by an ongoing SEC investigation related to the periods
2014 through 2016.”
Following this news, shares of the Company’s stock declined
$0.76 per share, or over 27% in value, to close on March 18, 2020
at $1.99 per share.
The complaint alleges that RTI Surgical made a series of false
and misleading statements to investors during the Class Period, and
failed to disclose that: (i) the Company inappropriately recognized
revenues with respect to certain contractual arrangements,
including other equipment manufacturer customers; and (ii) the
Company’s internal controls over financial reporting were not
effective.
IMPORTANT DEADLINE: Investors who purchased RTI
Surgical’s securities during the Class Period may, no later than May 22, 2020, seek to be
appointed as a lead plaintiff shareholders representative in the
action.
Investors are encouraged to contact Kaskela Law LLC for
additional information about this action. Kaskela Law LLC
exclusively represents investors in securities fraud, corporate
governance, and merger & acquisition litigation. For additional
information about Kaskela Law LLC please visit
www.kaskelalaw.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200323005746/en/
D. Seamus Kaskela, Esq. KASKELA LAW LLC 18 Campus
Boulevard, Suite 100 Newtown Square, PA 19073 (484) 258 – 1585
(888) 715 – 1740 www.kaskelalaw.com skaskela@kaskelalaw.com
RTI Surgical (NASDAQ:RTIX)
Historical Stock Chart
From Mar 2024 to Apr 2024
RTI Surgical (NASDAQ:RTIX)
Historical Stock Chart
From Apr 2023 to Apr 2024