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Faruqi & Faruqi, LLP Announces Investigation of Orthofix International N.V.
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud claims on behalf of investors of Orthofix International N.V. (“Orthofix” or the “Company”) (NASDAQ: OFIX).
On July 29, 2013, Orthofix announced that it is postponing the release of its financial results for the second quarter of 2013 and its previously announced conference call. The Company explained that additional time is needed to review matters relating to revenue recognition practices for prior periods, and the Audit Committee, along with help from outside professionals, has commenced an internal investigation into these issues.
Following this news, on July 30, 2013, Orthofix’s stock dropped $4.46 or 16.28% to close at $22.94. Further, on August 6, 2013, the Company announced that it would restate financial statements for fiscal years 2011 and 2012 and the first quarter of 2013.
If you invested in Orthofix stock or options between May 5, 2011 and July 29, 2013 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Orthofix’s conduct to contact the firm, including whistleblowers, former employees, shareholders, and others.
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