If you suffered losses in Integra LifeSciences stock contact Integra LifeSciences stock loss lawyer Timothy L. Miles
INTRODUCTION TO THE class action against Integra LifeSciences
The class action against Integra LifeSciences seeks to represent purchasers or acquirers of Integra LifeSciences Holdings Corporation (NASDAQ: IART) common stock between March 11, 2019 and May 22, 2023, inclusive (the “Class Period”). Captioned Pembroke Pines Firefighters & Police Officers Pension Fund v. Integra LifeSciences Holdings Corporation, No. 23-cv-20321 (D.N.J.), the class action against Integra LifeSciences charges Integra LifeSciences and certain of its top current and former executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in Integra LifeSciences stock and wish to serve as lead plaintiff in the class action against Integra LifeSciences, please provide your information below. You can also contact Integra LifeSciences Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the class action against Integra LifeSciences must be filed with the court no later than November 13, 2023.
Read on for answers to four frequently asked questions about the class action against Integra LifeSciences.
what are the allegations in the class action against Integra LifeSciences?
Integra LifeSciences develops regenerative tissue technologies and neurological solutions. The class action against Integra LifeSciences alleges that on November 2, 2018, the U.S. Food and Drug Administration (“FDA”) issued a Notice of Inspectional Observations on Form 483 (the “2018 Form 483”) to put Integra LifeSciences on notice of quality systems and manufacturing conditions violations. The complaint further alleges that on March 6, 2019, the FDA issued a warning letter (the “2019 Warning Letter”) to Integra LifeSciences further documenting the quality control and manufacturing problems at its Boston, Massachusetts facility (“Boston Facility”). On November 12, 2021, the FDA issued another Form 483 (the “2021 Form 483”) for violations of good manufacturing practice requirements, the complaint further alleges.
The class action against Integra LifeSciences alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Integra LifeSciences failed to take sufficient measures to remediate the violations identified by the FDA in the 2018 Form 483, 2019 Warning Letter, and the 2021 Form 483; (ii) as a result of those deficiencies, since March 2018, all products manufactured in the Boston Facility had the potential for higher-than-permitted levels of endotoxin and would need to be recalled; and (iii) Integra LifeSciences was not making progress towards obtaining its premarket approval (“PMA”) indication for its product SurgiMend, in part, because the manufacturing site that would produce the PMA product was in continued violation of the FDA standards that Integra LifeSciences failed to rectify years after the initial notice of the violations.
The class action against Integra LifeSciences further alleges that on April 26, 2023, Integra LifeSciences disclosed that it had “[p]aused production at the Boston manufacturing site in March while pulling forward quality system upgrades project.” As a result of the shutdown, Integra LifeSciences announced lowered operating margins for the quarter and flat revenue growth projection, the complaint alleges. The Integra LifeSciences class action lawsuit alleges that on this news, the price of Integra LifeSciences common stock fell nearly 8%.
The class action against Integra LifeSciences further alleges that on May 23, 2023, Integra LifeSciences disclosed that “after consultation with the [FDA], [Integra LifeSciences] initiated a voluntary global recall of all products manufactured in its [Boston Facility]” that were “distributed between March 1, 2018 and May 22, 2023.” The complaint further alleges that Integra LifeSciences revised its guidance for the second quarter of 2023, lowering its expectation for revenue by 6% and adjusted earnings per diluted share by 26%, and further revealed that Integra LifeSciences expects to take a $22 million impairment charge at the end of the second quarter of 2023 related to recalled inventory that would have to be written off. The class action against Integra LifeSciences alleges that on this news, the price of Integra LifeSciences common stock fell more than 20%.
WHAT IS THE LEAD PLAINTIFF PROCESS IN THE class action against Integra LifeSciences?
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Integra LifeSciences stock to seek appointment as lead plaintiff in the class action against Integra LifeSciences. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Integra LifeSciences stock and have further questions, contact Integra LifeSciences stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a class action against Integra LifeSciences if you suffered losses in Integra LifeSciences stock.
IF I SUFFERED LOSSES IN INTEGRA LIFESCIENCES STOCK, WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE class action against Integra LifeSciences?
Serving as a Lead Plaintiff in the class action against Integra LifeSciences has several advantages and important benefits including:
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Integra LifeSciences if you suffered losses in Integra LifeSciences stock.
WILL THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE class action against Integra LifeSciences settles?
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the class action against Integra LifeSciences. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff which directly relates to the representation of the class in the class action against Integra LifeSciences on behalf of investors who suffered losses in Integra LifeSciences stock.
CAN THE COURT APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE class action against Integra LifeSciences?
Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the class action against Integra LifeSciences.
CONTACT AN INTEGRA LIFESCIENCES STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN INTEGRA LIFESCIENCES STOCK ABOUT A class action against Integra LifeSciencest
If you suffered losses in Integra LifeSciences stock, contact Integra LifeSciences stock loss lawyer Timothy L. Miles today for a free case evaluation about a class action against Integra LifeSciences. Call today and see what an Integra LifeSciences stock loss lawyer can do for you if you suffered losses in Integra LifeSciences stock.
Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, 6Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America's Most Honored Lawyers 2020; Top 1% by America's Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime.
The Law Offices of Timothy L. Miles
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