A lawsuit was filed on behalf of investors in NuVasive, Inc. (NASDAQ:NUVA) shares over alleged securities laws violations. Deadline: October 28, 2013. NASDAQ:NUVA investors should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 09/09/2013 -- An investor, who purchased shares of NuVasive, Inc. (NASDAQ:NUVA), filed a lawsuit in the U.S. District Court for the Southern District of California over alleged violations of Federal Securities Laws by NuVasive, Inc. in connection with certain allegedly false and misleading statements made between October 22, 2008 and July 30, 2013.
Investors who purchased a significant amount of shares of NuVasive, Inc. (NASDAQ:NUVA) between October 22, 2008 and July 30, 2013, and / or those who purchased NASDAQ:NUVA shares prior to October 2008 and currently hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: October 28, 2013. NASDAQ:NUVA investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges, on behalf of all persons or entities who purchased or otherwise acquired securities of NuVasive, Inc. (NASDAQ:NUVA) between October 22, 2008 and July 30, 2013, that NuVasive, Inc. and certain of its officers and directors violated the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff alleges that Defendants made allegedly false and/or misleading statements and/or failed to disclose that NuVasive, Inc. improperly submitted false claims to Medicare and Medicaid in violation of federal and state laws and regulations, that NuVasive, Inc’s internal compliance program was unable to detect and report False Claims Act and other violations, and that as a result of the foregoing, NuVasive, Inc’s statements were materially false and misleading at all relevant times.
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 $22.52 per share on August 1, 2013.
On September 6, 2013, NASDAQ:NUVA shares closed at $23.18 per share.
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