Business Wire 14-Sep-2018 5:57 PM
Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of OPKO Health, Inc. (NasdaqGS: OPK) have filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between September 26, 2013 and September 7, 2018. OPKO is a healthcare company that engages in the diagnostics and pharmaceutical business in the U.S. and internationally.
View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/opko-health-inc/
OPKO Charged by the Securities and Exchange Commission (SEC) in Fraudulent Stock Scheme
According to the complaint, OPKO Health repeatedly assured investors regarding the accuracy of its financial reporting, the disclosure of any material changes to the company's internal control over financial reporting and the disclosure of all fraud. It therefore came as a surprise, when, on September 7, 2018, the Securities and Exchange Commission charged 10 individuals, including OPKO Chief Executive Officer and Chairman Phillip Frost, and 10 associated entities, including OPKO, for participating in long-running fraudulent schemes that generated over $27 million from unlawful stock sales and caused significant harm to retail investors who were left holding virtually worthless stock. On this news, shares of OPKO fell over 18% before NASDAQ halted trading, making the company's stock virtually worthless.
OPKO Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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