January 3, 2017 (Shareholders Foundation) - An investigation on behalf of investors in shares of Orthofix International NV (NASDAQ:OFIX) was announced over potential breaches of fiduciary duties by certain directors at Orthofix International.

The investigation by a law firm concerns whether certain Orthofix International directors breached their fiduciary duties and caused damage to the company and its shareholders.

Orthofix International NV reported that its annual Total Revenue declined from $402.28 million in 2014 to $396.49 million in 2015 and that its Net Loss declined from $8.54 million in 2014 to $2.81 million in 2015.

On December 16, 2016, an article was published alleging that the FDA is actively moving to down classify BGS from Class III to Class II, allowing cheap competition to flood in, stealing revenues and crushing margins. The article further revealed that as of October 1st, 2016 (about 10 weeks ago) the FDA just transferred the BGS down classification process to the specific department responsible for handling the down classification (the department of Orthopedics).

Shares of Orthofix International NV (NASDAQ:OFIX) declined on December 16, 2016, to as low as $32.75 per share.

On January 3, 2017 NASDAQ:OFIX shares closed at $35.53 per share.