An investigation on behalf of current long-term investors in shares of U NuVasive, Inc. (NASDAQ:NUVA) over potential wrongdoing by certain officers and directors was announced and NASDAQ:NUVA stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 08/05/2013 -- An investigation on behalf of investors in shares of NuVasive, Inc. (NASDAQ:NUVA) was announced concerning whether certain officers and directors of NuVasive possibly breached their fiduciary duties in connection with certain statements.
Investors who purchased shares of NuVasive, Inc. (NASDAQ:NUVA) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain NuVasive officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by, among other things, failing to implement adequate internal controls.
NuVasive, Inc. reported that its annual Total Revenue rose from $540.51 million in 2011 to $620.25 million in 2012 and that its Net Loss of $69.85 million in 2011 turned into a Net Income of $3.14 million in 2012.
Shares of NuVasive, Inc. (NASDAQ:NUVA) increased from $13.36 per share in October 2012 to as high as $27.19 per share on July 24, 2013.
Then on July 30, 2013, NuVasive, Inc. reported its second quarter 2013 financial results. Among other thins, NuVasive, Inc. said that during the three months ended June 30, 2013, the Company 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 $22.50 per share on August 1, 2013.
Those who purchased shares of NuVasive, Inc. (NASDAQ:NUVA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego