On June 8, the company reported Israeli Securities Authority conducted an investigation in May, searching offices and questioning officers.
Here are five insights:
1. Kaplan Fox & Kilsheimer is investigating Mazor on behalf of investors who purchased the company’s American Depositary Receipts or other securities. Investors purchased the receipts between Nov. 8, 2016, and June 8, 2017.
2. The investors allege Mazor violated the Securities Exchange Act of 1934.
3. The lawsuit involves Mazor allegedly making materially false and misleading statements during the Class Period.
4. Additionally, investors allege Mazor didn’t disclose they were involved in conduct that warranted an Israeli Securities Authority investigation, and therefore was at potential liability.
5. After Mazor announced the investigation on June 8, its ADRs dropped by 9.9 percent. By June 9, the ADRs fell an additional 9.15 percent.
More articles on devices:
Jon Stryker is Michigan’s top philanthropist, donating $336M in the state since 2000
Medtronic’s Luann Pendy on diversity in the medical device field: 7 key thoughts
K2M reveals SAHARA AL Expandable Stabilization System: 5 takeaways
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
