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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 January 26, 2021 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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September 4, 2020 -The court preliminarily approved the settlement.
June 26, 2020 - A stipulation and agreement of settlement was entered by the parties.
May 3, 2019 - A consolidated complaint was filed.
February 5, 2019 - This case was transferred to the Southern District of Florida by court order.
September 12, 2018 - An investor in shares of OPKO Health, Inc. (NASDAQ: OPK) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by OPKO Health, Inc. in connection with certain allegedly false and misleading statements made between September 26, 2013 and September 7, 2018. Miami, FL based OPKO Health, Inc., a healthcare company, engages in the diagnostics and pharmaceuticals business in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. OPKO Health, Inc. reported that its annual Total Revenue declined from over $1.22 billion in 2016 to over $1.06 billion in 2017 and that its Net Loss increased from $25.08 million in 2016 to $308.87 million in 2017.
On September 7, 2018, the U.S. Securities and Exchange Commission (“SEC”) filed a lawsuit against OPKO Health, Inc. and its CEO and Chairman, Phillip Frost, alleging violations of the federal securities laws. The complaint alleges that Defendants were participants in “highly profitable ‘pump-and-dump’ schemes . . . from 2013 through 2018” in the stock of three public companies that, “while enriching Defendants by millions of dollars, left retail investors holding virtually worthless shares.” Shares of OPKO Health, Inc. (NASDAQ: OPK) declined to as low as $4.02 per share on September 7, 2018.
According to the complaint the plaintiff alleges on behalf of purchasers of OPKO Health, Inc. (NASDAQ: OPK) common shares between September 26, 2013 and September 7, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 26, 2013 and September 7, 2018, the defendants made false and/or misleading statements and/or failed to disclose that OPKO Health, Inc. and its Chairman and Chief Executive Officer, Phillip Frost, were engaged in a pump-and-dump scheme with several other individuals and companies in their investments in several penny stocks, that this illicit scheme would result in governmental scrutiny including from the SEC, and that as a result, defendants’ statements about OPKO Health, Inc’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On September 12, 2018, NASDAQ: OPK shares closed at $4.58 per share.