An investigation on behalf of current long term investors in NuVasive, Inc. (NASDAQ:NUVA) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:NUVA stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 10/23/2013 -- An investigation on behalf of investors in shares of NuVasive, Inc. (NASDAQ:NUVA) was announced concerning potential breaches of fiduciary duties by certain directors and officers of NuVasive, Inc.
Investors who are current long term investors in NuVasive, Inc. (NASDAQ:NUVA) shares, 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 for current long term investors in NuVasive, Inc. (NASDAQ:NUVA) stocks follows a lawsuit filed recently against NuVasive, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NuVasive, Inc. (NASDAQ:NUVA) stocks concerns whether certain NuVasive officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in th U.S. District Court for the Southern District of California the plaintiff alleges that NuVasive, Inc. 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 things, 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.
Those who purchased shares of NuVasive, Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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