Investigation Overview
San Diego, Jan. 06, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in shares of Integra LifeSciences Holdings Corp. (NASDAQ:IART)) over potential securities laws violations by certain officers and directors at Integra LifeSciences Holdings was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Integra LifeSciences Holdings Corp. (NASDAQ:IART) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements Integra LifeSciences Holdings business, its prospects and its operations were potentially materially false and misleading at the time they were made.
Integra LifeSciences Holdings Corp. reported that its annual Revenue increased from $550.46million for 2007 to $732.07million for 2010 and its Net Income rose over the same time periods from $25.75million to $65.67million.
Shares of Integra LifeSciences Holdings Corp. (Public, NASDAQ:IART) increased from as low as $20.29 per share in March 09 to over $52 per share in April 2011.
Then on October 31, 2011, Integra LifeSciences Holdings Corp. reported its third quarter 2011 results. Among other things, Integra LifeSciences Holdings reported that its third quarter Revenue increased from $186.64million for the third quarter in 2010 to $202.19million for the third quarter in 2011. However, Integra LifeSciences Holdings said that its third quarter Net Income fell from $16.48million in 2010 to $11.24million in 2011. Integra LifeSciences Holdings Corp. also reaffirmed its FY 2011 revenue guidance but lowered its FY 2011 EPS guidance.
Shares of Integra LifeSciences Holdings Corp. (NASDAQ: IART) dropped from $38.35 per share to $28.30 on November 2, 2011.
Then on Jan. 5, 2012, LifeSciences Holdings Corp reported its preliminary fourth quarter and full-year 2011 financial results and preliminary 2012 outlook. Among other things, LifeSciences Holdings Corporation also said that it received a warning letter from the United States Food and Drug Administration (FDA) related to quality systems and compliance issues at its collagen manufacturing facility located in Plainsboro, New Jersey. The letter resulted from an inspection held at that facility in August 2011.
Shares of Integra LifeSciences Holdings Corp fell from $30.80 on January 5th to $24.49 on Jan. 6, 2011.