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Globus Medical Inc (NYSE: GMED) Investor Securities Class Action Lawsuit 09/29/2015

  • If you purchased shares of Globus Medical Inc (NYSE: GMED), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Globus Medical Inc
Security
NYSE: GMED

Case Name
Globus Medical Shareholder Class Action Lawsuit 09/29/2015
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Eastern District of Pennsylvania

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

September 28, 2017 - The U.S. Court of Appeals for the Third Circuit affirmed the judgement of the district court.
September 13, 2016 - The lead plaintiff filed a notice of appeal.

August 24, 2016 - The court granted defendants' motion to dismiss.

March 28, 2016 - Defendants filed a motion to dismiss.

February 22, 2016 - The lead plaintiff filed an amended complaint.

January 15, 2016 - Lead plaintiff and lead counsel were appointed.

November 30, 2015 - Lead plaintiff motion was filed.

September 29, 2015 - An investor in shares of Globus Medical Inc (NYSE: GMED) filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania over alleged violations of Federal Securities Laws by Globus Medical Inc in connection with certain allegedly false and misleading statements made between February 26, 2014 through August 5, 2014.

According to the complaint the plaintiff alleges on behalf of purchasers of Globus Medical Inc (NYSE: GMED) common shares between February 26, 2014 through August 5, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 26, 2014 through August 5, 2014 issued materially false and misleading statements to investors and/or failed to disclose that Globus Medical Inc’s relationship with a significant distributor was deteriorating, that such deterioration was negatively impacting Globus Medical Inc’s financial performance, and that as a result of the foregoing, defendants’ statements about Globus Medical Inc’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

On February 26, 2014, Globus Medical Inc reported its full year and fourth quarter 2013 results. Globus Medical Inc reported that its annual Total Revenue increased from $385.99 million in 2012 to $434.46 million in 2013 while its Net Income declined from $73.83 million to $68.61 million.

Shares of Globus Medical Inc (NYSE: GMED) rose to as high as $26.37 per share in March 2014.

On August 5, 2014, Globus Medical Inc announced its financial results for the 2014 second quarter and lowered its revenue guidance for the 2014 year.

Shares of Globus Medical Inc (NYSE: GMED) declined to as low as $18.14 per share in late August 2014.