An Orthofix Medical Inc. shareholder sued the spine device maker for allegedly misleading investors about its management team.
The lawsuit comes almost 12 months after Texas-based Orthofix fired CEO Keith Valentine, CFO John Bostjancic, and chief legal officer Patrick Keran. An internal investigation revealed they engaged in repeated “inappropriate and offensive conduct,” the company said at the time.
The suit, filed Wednesday in the US District Court for the Eastern District of Texas, accused Orthofix of falsely assuring investors that its management team was committed to conducting business according to the highest ethical and legal standards.
“In fact, as was ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.