Following the announcement of the resignation of Wright Medical Groups CEO an investigation on behalf of investors of Wright Medical Group, Inc. (NASDAQ:WMGI) over possible violations of Federal Securities Laws was announced.

The investigation by a law firm focuses on potential shareholder claims in connection with the following events.
Wright Medical Groups 12months Total Revenue increased from $386.85million in 2007 to $518.97million in 2010. Its Net Income rose from $0.96million in 07 to $17.84million in 2010.

On September 29, 2010, Wright Medical Group, Inc. agreed to pay $7.9 million to settle civil and administrative claims to resolve a United States Department of Justice investigation into the consulting and professional service agreements by Wright Medical Group, Inc. with orthopaedic surgeons in connection with hip or knee joint replacement procedures or products. Wright Medical reformed the way it hires consultants.

Shares of Wright Medical Group, Inc. (NASDAQ:,WMGI) trade recently at $15.50 per share. However, WMGI shares traded during 2007 as high as $30.14 per share and during 2008 as high as over $32.13 per share.

WMGI shares fell from roughly $17.14 per share to as low as $14.70 during April 5, 2011 after on April 5, 2011, it was disclosed that Gary D. Henley, Wright Medical Groups CEO since 2006, resigned before a board meeting called to discuss managements oversight of the companys ongoing compliance program. CEO Mr. Henley also resigned his position on the board of directors.

Wright Medical Group further disclosed that the employment of Frank S. Bono, Senior Vice President and Chief Technology Officer, was terminated for failing to exhibit appropriate regard for the companys ongoing compliance program.