||OPKO Health, Inc.
||United States District Court for the Southern District of Florida
||The Hon. Jose E. Martinez
||Between September 26, 2013 through September 7, 2018
On September 14, 2018, the initial complaint in this securities class action was filed against OPKO Health, Inc. (“OPKO” or the “Company”), and certain of OPKO’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.
The complaint alleged that the defendants made false and/or misleading statements and/or failed to disclose that: (1) OPKO and its Chairman and Chief Executive Officer were engaged in a pump-and-dump scheme with several other individuals and companies in their investments in several penny stocks; (2) this illicit scheme would result in governmental scrutiny including from the SEC; and (3) as a result, the defendants’ statements about OPKO’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
This securities class action lawsuit was brought on behalf of all persons or entities that purchased or otherwise acquired OPKO common stock during the period from September 26, 2013 through September 7, 2018, inclusive.
Current Status of Case:
On May 29, 2020, the parties informed the Court that they had reached a settlement in principle to settle this action for $16,500,000. On June 29, 2020, the parties entered into a Stipulation and Agreement of Settlement. The Court preliminarily approved the settlement on September 4, 2020. A motion for final approval of the settlement was filed by the lead plaintiff on November 10, 2011. This motion is currently pending before the Court.
You may find additional information regarding the terms of the settlement and claim filing process at https://www.opkohealthsecuritieslitigation.com, or by calling JND Legal Administration at 888.383.0345.
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