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Stock Market & Financial Investment News

News Breaks
December 16, 2012
17:43 EDTOFIXOrthofix concludes bone growth stimulator investigation
Orthofix International announced that it has resolved all matters related to the investigation of its bone growth stimulation business. Consistent with the agreement in principle that the Company previously announced in May 2011, the Company will pay approximately $43 million to resolve all civil and criminal matters, which included a plea to obstruction of a June 2008 federal audit. These charges were previously recorded in the first quarter of 2011. As part of the resolution, the Court imposed a five-year term of probation, during which the Company must continue to comply with the terms of its previously-executed Corporate Integrity Agreement. This final settlement also includes the resolution of a related qui tam complaint filed against the Company, which remains pending against several of its competitors.
News For OFIX From The Last 14 Days
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March 17, 2015
13:06 EDTOFIXOrthofix files to delay Form 10-K
As previously disclosed, the company is continuing to prepare restated financial statements for the fiscal years ended December 31, 2013, 2012 and 2011, including the interim quarterly periods contained within the fiscal years ended December 31, 2013 and 2012, and the fiscal quarter ended March 31, 2014. In addition, the company is continuing to prepare its delayed Quarterly Reports for the fiscal quarters ended June 30, 2014 and September 30, 2014, which will contain restated consolidated interim financial statements for the fiscal quarters ended June 30, 2013 and September 30, 2013, respectively. As a result of this process, the company is not yet able to file its annual report on Form 10-K for the fiscal year ended December 31, 2014. The company is working expeditiously to complete the restatement and each of the aforementioned filings, including the 2014 Form 10-K, as soon as practicable.

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