Integra LifeScience Subject to Investigation: Johnson Fistel Seeks Remedies for Investors After the Stock Drop (IART)
Johnson Fistel, LLP, a shareholder rights law firm, is investigating Integra LifeSciences Holdings Corp. (NASDAQ: IART) to determine whether investors who suffered significant losses on their investment may be able to recover their losses under federal securities laws.
Integra made an announcement on May 23, 2023, stating that it had conducted an internal investigation, leading to a global recall of all products produced at its Boston, Massachusetts facility. The affected products were distributed between March 1, 2018, and May 22, 2023. The company ceased manufacturing operations at the facility. The reason behind these actions was the company “identified deviations with endotoxin testing that may have resulted in the release of products with higher levels of endotoxins than permitted by the product specifications”.
Integra disclosed that it anticipates a material impairment charge related to the write-off of inventories. As a consequence, the company revised its revenue and earnings per share (EPS) guidance lower than previously stated.
Our firm works on a contingency fee basis which means there will be no cost to you. Contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471.
If you have relevant nonpublic information about the company, consider assisting the investigation or taking advantage of the SEC Whistleblower program. Whistleblowers who provide original information under the SEC program may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com