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BVS.US
id: 573, Created by Stan Vick, Scout
$BVS Financial Misrepresentation Case
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M.D. North Carolina
CourtOn November 21, 2022, Bioventus (BVS) announced that "due to the adverse effect on the previously announced third quarter 2022 financial results and revenue guidance that resulted from additional rebate claims related to certain of the Company’s products and a non-cash impairment charge required by the U.S. generally accepted accounting principles resulting from the recent decline in the Company’s market capitalization subsequent to its previously announced financial results for the third quarter of 2022, the Company is amending its previously announced third quarter financial results as provided below, which replaces the earnings release of November 8, 2022, in its entirety."
Previously on November 16, 2022, Bioventus (BVS) made a press release about filing for an Extension to File Form 10-Q for the Period Ending October 1, 2022.
Taking the latest news into account, Investors have reason to suspect that the Company, its Leaders, and its Service Providers could violate the rights of shareholders, which, among other things, could lead to their losses.
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
21 November 2022
Lead Plaintiff Deadline
13 March 2023