On or around 09/28/2017 (Other)
Filing Date: September 29, 2015
According to the law firm press release, the lawsuit alleges throughout the Class Period defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) Globus Medical’s relationship with a significant distributor was deteriorating; (2) such deterioration was negatively impacting Globus Medical’s financial performance; and (3) as a result of the foregoing, defendants’ statements about Globus Medical’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
On January 14, 2016, the Court issued an Order appointing Lead Plaintiff and approving Lead Counsel. Lead Plaintiff filed an amended complaint on February 19.
On August 25, 2016, the Court issued an Order granting Defendants' Motion to Dismiss. On September 9, the Court denied a Motion for Reconsideration of the above Order.
Company & Securities Information
Defendant: Globus Medical, Inc.
Industry: Medical Equipment & Supplies
Headquarters: United States
Ticker Symbol: GMED
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Mark Silverstein, et al. v. Globus Medical, Inc., et al.