Key Developments: Orthofix International NV (OFIX.OQ)

OFIX.OQ on NASDAQ Stock Exchange Global Select Market

31.51USD
17 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Orthofix International names interim CFO- Form 8-K
Friday, 18 Apr 2014 05:13pm EDT 

Orthofix International NV:Appoints David E. Ziegler to the position of interim chief financial officer effective immediately.Says prior CFO Emily V. Buxton notified her voluntary resignation on April 14.Says board is currently conducting a search for a permanent chief financial officer.  Full Article

Orthofix International NV appoints Ronald A. Matricaria as new chairman of board
Thursday, 20 Mar 2014 07:00pm EDT 

Orthofix International NV:Appoints of Ronald A. Matricaria as director and chairman of board.Matricaria replaces Kathleen Regan, who has served as interim chair since Jan.Regan will continue to serve as independent director for the company and chair of nominating and governance committee.  Full Article

Orthofix International NV Provides Update on NASDAQ Listing Status
Wednesday, 5 Feb 2014 11:00pm EST 

Orthofix International NV:Says that as previously announced, the company intends to restate its financial statements for the 2011 and 2012 calendar years, as well as for the first quarter of 2013.As a result, the company has not yet filed its quarterly reports on Form 10-Q for the fiscal quarters ended June. 30, 2013 and Sept. 30, 2013.Therefore, also as previously announced, the company is not in compliance with NASDAQ Listing Rule 5250(c)(1).Says the company, in coordination with the Audit Committee of the Company's Board of Directors, is currently preparing the financial restatement and the Delinquent Reports, and substantial progress has been made in that regard.Says the company intends to complete the restatement and file the Delinquent Reports as promptly as practicable, and is currently proceeding with the objective of completing this process by the end of the first quarter of 2014.  Full Article

Orthofix International NV appoints Kathleen Regan as interim chair of board
Thursday, 23 Jan 2014 06:30pm EST 

Orthofix International NV:Says that its board of directors has appointed Kathleen Regan, a director, as interim chair of the board, effective immediately.Says Regan succeeds Randy Thurman, who has accepted a new executive position that requires him to limit his other professional activities and has resigned from the board.  Full Article

Levi & Korsinsky, LLP Announces Class Action Against Orthofix International NV And Its Board Of Directors And Lead Plaintiff Deadline Of October 14, 2013
Friday, 11 Oct 2013 06:01pm EDT 

Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Orthofix International NV (Orthofix or the Company) securities during the period between May 5, 2011 and July 29, 2013. The complaint alleges that the Company issued false and misleading statements about the Company`s financial condition and prospects. On July 29, 2013, Orthofix issued a press release announcing, among other things, that it was delaying the release of its financial results for the second quarter of 2013 and that additional time was needed to review matters relating to revenue recognition for prior periods. In response to this announcement the price of Orthofix shares declined from $27.40 per share prior to the announcement to $22.71 per share on July 30, 2013. Then, on August 6, 2013, Orthofix issued a press release announcing that it would restate its financial statements for fiscal years 2011 and 2012 and the first quarter of 2013.  Full Article

Former SEC Attorney Willie Briscoe and Powers Taylor LLP Investigate Possible Breaches Of Fiduciary Duty By Officers And Directors Of Orthofix International N.V.
Friday, 13 Sep 2013 02:36pm EDT 

Former SEC Attorney Willie Briscoe and Powers Taylor LLP announced that federal class action lawsuit has been filed against Orthofix International N.V. and several of its officers and directors for acts taken place during the period of May 5, 2011 to July 29, 2013 (the Class Period). In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that defendants misrepresented and/or failed to disclose that, among other things: (a) certain revenues recognized during 2011 and 2012 should not have been recognized or should not have been recognized during the periods in which they were recognized; (b) Orthofix`s previously issued consolidated financial statements as of and for the fiscal years ended December 31, 2011 and December 31, 2012, as well as for the interim quarterly period ended March 31, 2013, should not be relied upon; (c) Orthofix`s financial statements during 2011, 2012, and the first quarter of 2013 were materially false and misleading by violating Generally Accepted Accounting Principles and the Company`s publicly disclosed policy of revenue recognition; (d) Orthofix`s Forms 10-Q and 10-K for fiscal years 2011 and 2012, as well as for the first quarter of 2013 failed to disclose then presently known trends, events or uncertainties associated with Orthofix`s revenues that were reasonably likely to have a material effect on the Company`s future operating results.  Full Article

Holzer Holzer & Fistel, LLC Filed a Class Action Against Orthofix International N.V.
Tuesday, 3 Sep 2013 11:51am EDT 

Holzer Holzer & Fistel, LLC announced that it has filed a class action lawsuit on behalf of investors who purchased Orthofix International N.V. (NASDAQ: OFIX) common stock between May 5, 2011 and July 29, 2013. The complaint alleges that a series of statements made during that time regarding Orthofix's business, operations and prospects were false and misleading. Specifically, the complaint alleges that Orthofix misrepresented and failed to adequately disclose: (a) certain revenues recognized during 2011 and 2012 should not have been recognized or should not have been recognized during the periods in which they were recognized; (b) Orthofix's previously issued consolidated financial statements as of and for the fiscal years ended December 31, 2011 and December 31, 2012 (as well as the interim quarterly periods within such years), and for the interim quarterly period ended March 31, 2013, should not be relied upon; (c) Orthofix's financial statements during 2011, 2012, and the first quarter of 2013 were materially false and misleading and violated generally accepted accounting principles and Orthofix's publicly disclosed policy of revenue recognition; (d) Orthofix's Forms 10-Q and 10-K for fiscal years 2011 and 2012, as well as for the first quarter of 2013, failed to disclose then presently known trends, events or uncertainties associated with the Company's revenues that were reasonably likely to have a material effect on Orthofix's future operating results.  Full Article

The Law Firm Of Lieff Cabraser Heimann & Bernstein, LLP Announces Class Action Litigation Against Orthofix International N.V.
Wednesday, 28 Aug 2013 09:00am EDT 

The law firm of Lieff Cabraser Heimann & Bernstein, LLP announced that a class action litigation has been brought on behalf of purchasers of the common stock of Orthofix International N.V. between May 5, 2011 and July 29, 2013, inclusive (the Class Period). The complaint charges Orthofix and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Orthofix, a medical device company headquartered in Curacao, Netherlands Antilles, designs, develops, manufactures, markets and distributes medical equipment used principally by musculoskeletal medical specialists for spine and orthopedic applications.  Full Article

Glancy Binkow & Goldberg Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Orthofix International NV
Friday, 23 Aug 2013 11:32pm EDT 

Glancy Binkow & Goldberg LLP announced that all purchasers of the securities of Orthofix International NV between May 5, 2011 and July 29, 2013, inclusive (the Class Period), have until October 14, 2013 to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the Southern District of New York. The Complaint alleges that defendants misrepresented or failed to disclose that: (1) certain revenues recognized during 2011 and 2012 should not have been recognized or were recognized improperly; (2) Orthofix`s previously issued consolidated financial statements as of and for the fiscal years ended December 31, 2011 and December 31, 2012, the interim quarterly periods within those years, and for the interim quarterly period ended March 31, 2013 should not be relied upon; (3) Orthofix`s financial statements during 2011, 2012 and the first quarter of 2013 were materially false and misleading and violated generally accepted accounting principles and the Company`s revenue recognition policy; (4) Orthofix`s Forms 10-Q and 10-K for fiscal years 2011, 2012, and the first quarter of 2013, failed to disclose then-known trends, events or uncertainties associated with the Company`s revenues that were reasonably likely to have a material effect on Orthofix`s future operating results.  Full Article

The Rosen Law Firm, P.A. Announces Class Action Lawsuit Against Orthofix International N.V.
Friday, 23 Aug 2013 12:53am EDT 

The Rosen Law Firm, P.A. announced that a class action lawsuit has been filed on behalf of purchasers of Orthofix International N.V. stock during the period between May 5, 2011 and July 29, 2013, inclusive, seeking to recover damages for violations of the federal securities laws. According to the Complaint, defendants misstated Orthofix's revenue for 2011 and 2012 and contrary to their public statements Orthofix had inadequate internal controls. As a result, the Company's financial statements issued during the Class Period were materially false and misleading.  Full Article

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