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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of October 23, 2018 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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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
Settlement Overview
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June 11, 2018 - The court preliminarily approved the settlement.
March 23, 2018 - A stipulation of settlement was filed by the parties.
October 26, 2016 - A sixth amended complaint was filed.
July 12, 2016 - The court granted in part and denied in part defendants' motion to dismiss.
September 11, 2015 - A fifth amended complaint was filed.
February 23, 2015 - A fourth amended complaint was filed.
December 23, 2014 - A third amended complaint was filed.
December 9, 2014 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.
September 8, 2014 - A second amended complaint was filed.
August 19, 2014 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.
February 13, 2014 - An amended complaint was filed.
August 28, 2013 - An investor in shares of NuVasive Inc (NASDAQ: NUVA) filed a lawsuit in the U.S. District Court for the Southern District of California against NuVasive Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between October 22, 2008 and July 30, 2013.
According to the complaint the plaintiff alleges, on behalf of all persons or entities who purchased or otherwise acquired securities of NuVasive Inc (NASDAQ: NUVA) between October 22, 2008 and July 30, 2013, that NuVasive Inc and certain of its officers and directors violated the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff alleges that Defendants made allegedly false and/or misleading statements and/or failed to disclose that NuVasive Inc improperly submitted false claims to Medicare and Medicaid in violation of federal and state laws and regulations, that NuVasive Inc’s internal compliance program was unable to detect and report False Claims Act and other violations, and that as a result of the foregoing, NuVasive Inc’s statements were materially false and misleading at all relevant times.
On July 30, 2013, NuVasive Inc reported its second quarter 2013 financial results. Among other things, NuVasive Inc said that during the three months ended June 30, 2013, NuVasive Inc received a federal administrative subpoena from the Office of the Inspector General of the U.S. Department of Health and Human Services (“OIG”) in connection with an investigation into possible false or otherwise improper claims submitted to Medicare and Medicaid. NuVasive Inc said that the subpoena seeks discovery of documents for the period January 2007 through April 2013.
Shares of NuVasive Inc (NASDAQ: NUVA) declined from over $27 per share in late July 2013 to as low as $22.52 per share on August 1, 2013.
On August 28, 2013, NuVasive Inc (NASDAQ: NUVA) shares closed at $23.73 per share.