A New York City law firm filed a securities class action lawsuit against spine devicemaker Orthofix Medical.
Scott+Scott Attorneys at Law's lawsuit is on behalf of people who acquired Orthofix common stock between October 11, 2022, and September 12, 2023, according to an Aug. 22 news release.
The law firm alleges Orthofix made misleading statements and omissions about company finances and business. The lawsuit also claims Orthofix did not disclose that some members of the management team engaged in repeated misconduct.
In September 2023, Orthofix named interim C-suite leadership after an investigation found "repeated inappropriate and offensive conduct." Since then, Orthofix appointed a new CEO, CFO and chief legal officer.
A spokesperson for Orthofix said the company doesn't comment on pending litigation.