A lawsuit was filed on behalf of investors in RTI Surgical Holdings, Inc. (NASDAQ: RTIX) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 04/06/2020 -- An investor, who purchased NASDAQ: RTIX shares, filed a lawsuit against RTI Surgical Holdings, Inc over alleged violations of Federal Securities Laws.
Investors in shares of RTI Surgical Holdings, Inc. (NASDAQ: RTIX) have certain options and for certain investors are short and strict deadlines running. Deadline: May 22, 2020. NASDAQ: RTIX investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On March 16, 2020, RTI Surgical Holdings, Inc. announced that it would not file its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (the "Annual Report") by the due date. The delay is due to an investigation of current and prior period matters relating to the Company's revenue recognition, primarily with OEM customers, including the accounting treatment, financial reporting, and internal controls related to such arrangements. The investigation was prompted by an ongoing SEC investigation related to the periods 2014 through 2016.
The plaintiff claims that between March 7, 2016 and March 16, 2020, the defendants made false and/or misleading statements and/or failed to disclose that the Company inappropriately recognized revenues with respect to certain contractual arrangements, including other equipment manufacturer customers, that the Company's internal controls over financial reporting were not effective, that as a result, the Company would be forced to delay the filing of its Form 10-K for fiscal year ended December 31, 2019, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of RTI Surgical Holdings, Inc. (NASDAQ: RTIX) have certain options and should contact the Shareholders Foundation.
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