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Stock Market & Financial Investment News

News Breaks
March 31, 2014
11:05 EDTOFIXOrthofix received more allegations of improper payments, WSJ says
In October last year, Orthofix was contacted by a tipster that alleged the company paid kickbacks to surgeons in Brazil, while the company was already in the process of investigating potential improper payments involving a subsidiary in the country, says the Wall Street Journal. The tipster alleged that Orthofix paid kickbacks both directly and through a distributor to win business, added the Wall Street Journal, citing emails that it viewed. Reference Link
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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