RADNOR, Pa., Oct. 26, 2015 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action lawsuit has been filed against Globus Medical, Inc. (NYSE:GMED) (“Globus Medical” or the “Company”) on behalf of purchasers of the Company’s securities between February 26, 2014 and August 5, 2014, inclusive (the “Class Period”).
Globus Medical shareholders who purchased their securities during the Class Period may, no later than November 30, 2015, petition the Court for appointment as a lead plaintiff of the class. Globus Medical shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706 or at info@ktmc.com.
The Complaint alleges that Globus Medical and certain of its executive officers made a series of false and misleading statements during the Class Period, and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the defendants are alleged to have made false and misleading statements 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.
On August 5, 2014, Globus Medical issued a press release announcing its financial and operational results for the second quarter of 2014, and lowering its revenue guidance for fiscal 2014. On this news, shares of the Company’s common stock declined $4.05 per share, or 17.9%, to close on August 6, 2014 at $18.51 per share.
For additional information about this lawsuit, or to request information about this action online, please visit http://www.ktmc.com/new-cases/globus-medical-inc.
Globus Medical shareholders who purchased their securities during the Class Period may, no later than November 30, 2015, petition the Court for appointment as a lead plaintiff of the class. Globus Medical shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706 or at info@ktmc.com.
A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com.