NEW YORK, Sept. 12, 2018 /PRNewswire/ -- Bernstein
Liebhard LLP, a nationally acclaimed investor rights law firm,
announces that a securities class action lawsuit has been filed on
behalf of those who purchased or acquired the securities of OPKO
Health, Inc. ("OPKO" or the "Company") (NASDAQ: OPK) between
September 26, 2013 and September 7, 2018, both dates inclusive (the
"Class Period"). The lawsuit seeks to recover OPKO shareholders'
investment losses.
If you purchased OPKO securities, and/or would like to discuss
your legal rights and options, please visit OPKO Shareholder
Class Action Lawsuit or contact Daniel
Sadeh toll free at (877) 779-1414
or dsadeh@bernlieb.com.
According to the lawsuit, throughout the Class Period Defendants
made false and/or misleading statements and/or failed to disclose
that: (1) Phillip Frost, OPKO's CEO
and Chairman, and OPKO were engaged in a pump-and-dump scheme with
several other individuals and companies in their investments in
several penny stocks; (2) this illicit scheme would result in
governmental scrutiny, including from the SEC; and (3) as a result,
Defendants' statements about OPKO's business, operations and
prospects were materially false and misleading and/or lacked a
reasonable basis at all relevant times. When the true details
entered the market, the lawsuit claims that investors suffered
damages.
On September 7, 2018, the SEC
issued a press release titled, "SEC Charges Microcap Fraudsters for
Roles in Lucrative Market Manipulation Schemes," including naming
Phillip Frost and OPKO as
defendants, stating in pertinent part:
According to the SEC's complaint,
from 2013 to 2018, a group of prolific South Florida-based microcap fraudsters led by
Barry Honig manipulated the share
price of the stock of three companies in classic pump-and-dump
schemes. Miami biotech
billionaire Phillip Frost allegedly
participated in two of these three schemes. Honig allegedly
orchestrated the acquisition of large quantities of the issuer's
stock at steep discounts, and after securing a substantial
ownership interest in the companies, Honig and his associates
engaged in illegal promotional activity and manipulative trading to
artificially boost each issuer's stock price and to give the stock
the appearance of active trading volume. According to the SEC's
complaint, Honig and his associates then dumped their shares into
the inflated market, reaping millions of dollars at the expense of
unsuspecting investors.
The SEC's complaint, which was
filed in federal district court in Manhattan, charges Honig, John Stetson, Michael
Brauser, John R. O'Rourke
III, Mark Groussman,
Frost, Elliot Maza,
Robert Ladd, Brian Keller, John H.
Ford, Alpha Capital Anstalt, ATG Capital LLC, GRQ
Consultants Inc., HS Contrarian Investments LLC, Grander Holdings
Inc., Melechdavid Inc., OPKO Health Inc., Frost Gamma
Investments Trust, Southern Biotech Inc., and Stetson Capital
Investments Inc. with violating antifraud, beneficial ownership
disclosure, and registration provisions of the federal securities
laws and seeks monetary and equitable relief.
[Emphases added].
On this news, OPKO's stock fell $1.01 per share, or over 18%, before NASDAQ
halted trading of OPKO on September 7,
2018 at 2:34 p.m. EST at
$4.58 per share. To date, trading in
OPKO remains halted.
If you wish to serve as lead plaintiff, you must move the Court
no later than November 13, 2018. A
lead plaintiff is a representative party acting on behalf of other
class members in directing the litigation. Your ability to share in
any recovery doesn't require that you serve as lead plaintiff. If
you choose to take no action, you may remain an absent class
member.
If you purchased OPKO securities, and/or would like to discuss
your legal rights and options, please visit
https://www.bernlieb.com/cases/opko-health-inc-opk-lawsuit-class-action-fraud-stock-81/
https://www.bernlieb.com/cases/gds-holdings-limited-gds-class-action-lawsuit-74/or
contact Daniel Sadeh toll free at
(877) 779-1414 or dsadeh@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National Law
Journal's "Plaintiffs' Hot List" thirteen times and listed in
The Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2018 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
dsadeh@bernlieb.com
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